Examlex
A lack of heartbeat and respiration are the only criteria for
Long-Run Supply
The total quantity of goods or services that a market can produce and provide over a long period, considering all relevant input adjustments.
Lowest Price
The minimum cost at which a product or service is offered in the market.
Short Run
A period of time in economics during which at least one input, usually capital, is fixed and cannot be changed.
Efficient Output
The level of production at which a company or economy can produce the maximum amount of goods and services with the least waste of resources.
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