Examlex
In recent years, employers have been reprimanding and even firing employees for comments made online in blogs, Twitter, or Facebook. Using what you learned about the concepts of power in this chapter, construct an argument either for or against that practice.
Long Run
In economics, this refers to a period in which all factors of production and costs are variable, allowing full adjustment to changes.
Economic Profits
The disparity between a company's overall income and its combined direct and indirect expenses.
Close Substitutes
Products or services that can serve almost the same purpose, making them almost interchangeable in the eyes of consumers.
Monopolistically Competitive Industry
A market structure where many firms sell products that are similar but not identical, allowing for competition based on factors other than just price.
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