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Unless otherwise ordered, vital signs are taken with the person
Production Costs
Expenses incurred during the process of creating a good or service, including labor, raw materials, and overhead costs.
Decreasing-Cost Industry
An industry in which expansion through the entry of firms lowers the prices that firms in the industry must pay for resources and therefore decreases their production costs.
Long-Run Supply Curve
As it applies to macroeconomics, a supply curve for which price, but not real output, changes when the demand curves shifts; a vertical supply curve that implies fully flexible prices.
Downsloping
Typically describes a graph line that shows a decrease in a variable as another variable increases, often used in economics to illustrate concepts like demand curves.
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