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What is the basic difference between the short run and long run as these terms relate to
macroeconomics? Why does this difference occur?
Institutional Memory
The collective knowledge and history held within an organization, enabling it to learn from past experiences and decisions.
Hidden Cost
Expenses not immediately apparent or obvious when purchasing or investing in something, often becoming clear later on.
Product Quality
refers to the characteristics of a product that determine its ability to satisfy stated or implied customer needs.
Service Quality
Refers to the measurement of how well a delivered service matches the customer's expectations.
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