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VERY LONG RUN, MICROECONOMICS: A production time period in which all inputs are variable, including those under control of the firm and those beyond the control of the firm. During the very long run, not only are the labor, capital, land, and entrepreneurship inputs variable, but so too are key production inputs such as government rules, technology, and social customs. This is one of four production time periods used in the study of microeconomics. The other three are short run, long run, and very short run.
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BEHAVIORAL ALTERNATIVES Two different inclinations toward institution changing innovations and maintenance of the status quo. One alternative is entrepreneurial behavior, which is the willingness to develop or adopt innovations that change existing institutions and the status quo. The other alternative is managerial behavior, which is the desire to maintain and promote existing institutions and the status quo. These alternatives can be traced to different preferences for novel and redundant information, which result from the physiological reaction to a potential threat.
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BLACK DISMALAPOD [What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for slow moving vehicles with darkened windows. Your Complete Scope
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"A pint of sweat saves a gallon of blood. " -- General George Patton
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TIFFE Tokyo International Financial Futures Exchange (Japan)
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