Examlex
A car of mass 2000 kg is traveling at 22.0 m/s on a day when the temperature is 20.0oC. The driver steps on the brakes and stops the car. By how much does the entropy of the universe increase?
Long-Run Equilibrium
A state in which all aspects of the economy, including supply and demand, are in balance, and all economic agents have fully adjusted to any changes.
Decrease in Demand
refers to a situation where consumers' desire and ability to purchase a product or service diminishes, leading to a downward shift in the demand curve.
Short Run
A time period in economics during which at least one input (such as plant size) is fixed and cannot be changed.
Long Run
A period of time in economics during which all factors of production and costs are variable, allowing full adjustment to changes.
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