Examlex
What is not true about records?
Long-Run Supply Curve
A graphical representation that shows how the quantity supplied of a good changes in response to a price change once producers have had enough time to adjust their production decisions fully.
Constant-Cost Industry
An industry in which costs of production do not change as the industry's output changes.
Decreasing-Cost Industry
An industry where the costs of production decrease as the industry grows and output increases, due to factors such as economies of scale.
Start-Up Firms
New business ventures that are typically tech-focused or innovative in nature, aiming to meet a market need by developing a viable business model.
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