Examlex
A row of the periodic table is called a(n)
Economic Profits
Profits calculated by deducting both the explicit and implicit costs from the total revenues, differing from accounting profits by considering opportunity costs.
Long-run Equilibrium
A state in an economy or market where all factors of production are fully employed, and supply equals demand, resulting in stable prices and output.
Competitive Price-searcher Market
A market where firms set their own prices due to product differentiation and search costs but still face competition from other firms.
Competitive Price-searcher
A market condition where firms set their prices based on the search and competition among them, yet they have some control over their prices because their products are differentiated.
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