Examlex
Simplify. Assume all variables represent nonnegative values.
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Economic Conditions
The state of an economy at a given time, encompassing factors such as inflation, unemployment rates, and GDP growth.
Decreasing-Cost Industry
An industry where average costs of production decrease as the industry grows and output increases, due to factors like technology improvements or economies of scale.
Entry
The act of entering or joining a particular market or area of business, often considered in terms of barriers that might exist to hinder new competitors.
Input Prices
Input prices refer to the costs associated with the purchase of the raw materials, labor, and other inputs required for the production of goods or services.
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