Examlex
Match each term with a statement below.
-What are the characteristics of a structured program?
Advertising
The action of calling public attention to products, services, needs, etc., especially by paid announcements in newspapers and magazines, over the radio or television, on billboards, etc.
Long-run Equilibrium
The state in which all inputs are variable, allowing firms to make adjustments and the market to clear.
Efficient Scale
The level of production at which average total costs are minimized.
Elasticity Of Demand
Elasticity of demand measures how the quantity demanded of a good changes in response to changes in its price.
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