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If there is a decrease in industry supply while the industry demand curve remains the same, then an individual firm in a perfectly competitive industry currently earning profits will see its profits
Faster
Often used to describe a process or method that reduces the amount of time needed to achieve a particular result.
Percent Less
A term used to describe a reduction or discount from a stated price, often expressed as a percentage.
Exports
Goods or services sent to another country for sale.
Imports
Goods or services brought into a country from abroad for sale, often subject to tariffs or trade agreements.
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