Today, There Are Over 140,000 Private Security Guards Licensed in Canada

question 161

True/False

Today, there are over 140,000 private security guards licensed in Canada.

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Definitions:

Decreasing-cost Industry

An industry where costs per unit decline as the industry's output increases due to economies of scale.

LRAC Curve

The Long-Run Average Cost (LRAC) Curve represents the minimum average cost at which any output level can be produced in the long run when all inputs are variable.

Industry Supply

The total quantity of a good or service that is available for purchase in a given industry, at a given time and place.

Supply Schedule

Shows how much of a product firms will sell at alternative prices.