Wednesday  September 18, 2024
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 HORIZONTAL ADDITION: In graphical analysis, the technique of combining two curves by adding the value of the variable on the horizontal or X axis for a given value of the variable on the vertical or Y axis. This is commonly done when deriving a market demand curve from a set of individual demand curves. The quantity demanded by every individual is added at a given price to identify the total market demand at that price.
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FACTORS OF PRODUCTION: The four basic factors used to produce goods and services in the economy--labor, capital, land, and entrepreneurship. These are also called resources or scarce resources. The term "factors of production" is quite descriptive of the function these "resources" perform. Labor, capital, land, and entrepreneurship are the four "factors" or items use in the "production" of goods and services. So there you have it "factors" of "production."

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AVERAGE REVENUE PRODUCT AND MARGINAL REVENUE PRODUCT

A mathematical connection between average revenue product and marginal revenue product stating that the change in the average revenue product depends on a comparison between the average revenue product and marginal revenue product. If marginal revenue product is less than average revenue product, then average revenue product declines. If marginal revenue product is greater than average revenue product, then average revenue product rises. If marginal revenue product is equal to average revenue product, then average revenue product does not change.

 GREEN LOGIGUIN[What's This?] Today, you are likely to spend a great deal of time lost in your local discount super center trying to buy either a set of tires or a birthday gift for your grandfather. Be on the lookout for infected paper cuts.Your Complete Scope
 In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
 "When you play, play hard; when you work, don't play at all. "-- Theodore Roosevelt, 26th US president
 ANOVAAnalysis of Variance
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