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Give the definition of fixed cost. What sorts of things might be included in fixed cost? Do fixed costs exist in the long run?
Unions
Organizations formed by workers from related sectors that work towards securing better pay, benefits, and working conditions for their members.
Economic Efficiency
A state where resources are allocated in the most beneficial way, maximizing output while minimizing waste.
Unions
Organizations that workers join to protect their interests and rights through collective bargaining.
Industries
Broad sectors of the economy engaged in the production and distribution of goods or services, characterized by their respective specialization fields.
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