Examlex
The different forms of a gene- for example, those responsible for eye color- are called
Long Run
A period in economic theory where all factors of production and costs are variable, allowing companies to adjust to market conditions fully.
Perfect Competitor
A theoretical market structure where many firms sell an identical product, entry and exit from the market are easy, and no single seller can influence the market price.
Long Run
A period of time in which all factors of production and costs are variable, and companies can adjust all inputs.
Perfect Competitor
A theoretical market structure characterized by many buyers and sellers, freely available information, and no barriers to entry or exit.
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