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The Suez Canal linked the Mediterranean Sea to the Persian Gulf.
MRP
Marginal Revenue Product, the additional revenue generated from using one more unit of a factor of production.
Rent
Payment made periodically by a tenant to a landlord in exchange for the use of land, a building, or another property.
MRP
The additional revenue produced by increasing one unit of a production input, emphasizing the productivity aspect in revenue generation.
Factor of Production
Resources used in the creation of goods or services, commonly categorized into land, labor, capital, and entrepreneurship.
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