Examlex
Using good grammar, describe how scanner resolution is different from printer resolution.
Diminishing Marginal Returns
A principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other inputs remain constant.
Perfectly Competitive
A perfectly competitive market is one where many buyers and sellers trade identical products so that each has no influence on the market price.
Short Run
A period in which at least one factor of production is fixed, limiting the ability of a firm to adjust to changes in market demand or supply.
Long-Run Industry
A period in which all factors of production and costs can be variable, allowing for adjustment to changes in market conditions.
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