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What is a long-run average cost curve?
Investment
The action or process of allocating resources, usually money, with the expectation of generating an income or profit.
Economic Growth
Refers to an increase in a country's output of goods and services over time, typically measured by GDP.
Production Possibility Frontier
A curve depicting the maximum attainable combinations of two products that may be produced with available resources and technology.
Increasing Opportunity Costs
The principle that as you increase production of one good, the opportunity cost of producing an additional unit of this good increases.
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