Examlex
Which term refers collectively to small, photosynthetic protists found in aquatic habitats?
Output
The quantity of goods or services produced within a given time period.
TR > TC
A situation where total revenue (TR) is greater than total costs (TC), indicating a company is making a profit from its operations.
Short Run
A period in which at least one of a firm's inputs is fixed, limiting its capacity to adjust its output levels.
Long Run
A period of time in which all factors of production and costs are variable, allowing firms to adjust all inputs.
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