Examlex
The basic components of emotion are
Exit the Industry
The process by which a business ceases operations in a particular market or industry, usually due to economic pressures or lack of profitability.
Zero Economic Profit
A situation in which a firm's total revenues equal its total costs, earning a normal profit but no economic profit.
Perfectly Competitive
A market structure characterized by many sellers, homogeneous products, and free entry and exit, leading to price determination by supply and demand.
Long-Run Industry Supply Curve
The long-run industry supply curve shows how the quantity supplied by an industry varies with price once all adjustment has been made, including the entry and exit of firms.
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