Examlex
Match each item to the word or phrase listed below.
-cause
Long-run Equilibrium
The state in which all inputs are variable, allowing firms to make adjustments and the market to clear.
Efficient Scale
The level of production at which average total costs are minimized.
Elasticity Of Demand
Elasticity of demand measures how the quantity demanded of a good changes in response to changes in its price.
Advertising
The activity or profession of producing advertisements for commercial products or services, aiming to influence consumer behavior.
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