Examlex
Find the center, transverse axis, vertices, foci, and asymptotes of the hyperbola.
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Long Run
An interval in which every aspect of production and costs can vary, enabling modifications to all contributions.
Supply
The whole sum of a service or product that is up for sale at a certain price tier in a specific marketplace.
Decreasing-Cost Industry
An industry where the average cost of production decreases as the industry's output increases, often due to economies of scale.
Long-Run Supply Curve
A graphical representation showing the relationship between the market price of a good and the quantity of it that producers are willing to supply when all production inputs are variable.
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