Examlex
In a correctly balanced equation, the number of reactant molecules must equal the number of product molecules.
Short-run Losses
Financial losses that a firm experiences within a limited time period, usually due to fixed costs and market conditions.
Industry Entry
The process or act of starting a new venture or entering a market as a new competitor.
Competitive Price-searcher
A market participant who actively compares prices among different suppliers to find the best deal.
Free Entry and Exit
A market condition where firms can enter or leave an industry without facing major obstacles or costs.
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