Examlex
A one-to-one correspondence between the set of counting numbers and the given set has been established. Find an expression for the nth term of the given set that corresponds to the counting number n.
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Long Run
The long run is a period in economics where all inputs or factors of production can be varied, allowing firms to adjust fully to market conditions.
Economic Profit
The split between total revenue generation and total cost accrual, encompassing both declared and understood costs.
Long-Run Adjustments
Adjustments that firms make over a period where all inputs can be varied, and there are no fixed factors of production.
Industry Supply
The total output of a particular good or service that all producers in the market are willing and able to sell at a given price level, over a specific time period.
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