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Client/server computing has largely replaced centralized mainframe computing.
Long-Run Equilibrium
A state in which all parts of the economy, such as supply and demand, are in balance over a significant period, with no external pressures causing shifts in the market.
Stock Prices
Stock Prices represent the cost of purchasing a share of ownership in a company, reflecting the company's current value as determined by buyers and sellers in the market.
Short-Run Aggregate Supply
The total supply of goods and services that firms in an economy plan on selling during a short time period, given the current level of prices.
Long-Run Equilibrium
A state in which all factors of production and costs are variable, leading to a situation where firms in a competitive market produce output at the lowest possible cost per unit.
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