Examlex
Seamus sat drinking in Kitty's Bar for several hours.When Kitty noticed that he had become drunk,she wanted him to leave.Is Kitty entitled to exclude Seamus from her bar if she initially invited him in for a drink? If so,is she entitled to use force to remove him?
Competitive Market
A market structure in which many firms offer products or services that are similar, allowing consumers to have choices, leading to lower prices due to competition.
Long-Run
A period in which all factors of production and costs are variable, allowing for full adjustment to any changes.
Market Demand
The total quantity of a good or service that all consumers are willing and able to purchase at various price levels within a given market, at a specific time.
Short Run
A time period during which at least one input, such as plant size or capital, is fixed and cannot be changed.
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