Examlex
The metric unit of weight is the ____________________, which is the weight of the amount of water it takes to fill a cube that is 1/100 of a meter long on each side.
Market Demand
The aggregate amount of a product or service that every consumer in a market is prepared and capable of buying at different price levels.
Long-Run Equilibrium
A state in which all factors of production and costs are variable, allowing firms to make adjustments and the market to stabilize at a point where supply equals demand.
Monopolistic Competitor
A firm in a market structure where many companies sell products that are similar but not identical.
Short Run
A period of time in economics during which at least one input is fixed and cannot be changed by businesses.
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