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Select three of the visual elements of art, define each, and then discuss a work from another chapter in the text that illustrates the use of that element. Give the title and artist of each of the works that you discuss.
Purely Competitive
A market structure characterized by a large number of small firms producing identical products, with no single firm able to influence the market price.
Marginal Revenue Product
Marginal Revenue Product measures the additional revenue generated from employing an extra unit of a resource.
Marginal Revenue Product
The additional revenue generated from using one more unit of a particular input, holding all other inputs constant.
Variable Input
Inputs or resources whose quantity can be changed in the short run to increase or decrease production.
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