Examlex
If a firm has to increase output suddenly to meet an increase in demand,its average total cost will increase in the short run until it has time to add physical capital.
Slave Property
Refers to the historical practice in which individuals were considered the legal property of others and forced into slavery.
Public Good
Goods or services that are available for use by all members of a society, typically provided without profit by the government, such as public parks or national defense.
Various States
Diverse or different states within a country, especially in a federal system where states have certain levels of autonomy and unique laws and policies.
Republic
A form of government in which power is held by the elected representatives of the people, and the head of state is usually a president.
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