Examlex
Tijuana is the home of some of Colombia's most notorious drug traffickers.
Industry Supply
The aggregate production of goods or services that companies within a particular sector can and want to offer at different pricing points.
Pure Competition
A market structure characterized by a large number of small firms producing identical products, where no single company has pricing power and market entry and exit are relatively easy.
Long-Run Adjustments
Long-run adjustments are changes made by firms or industries in response to shifts in market conditions over a longer period, involving variations in production levels and the entry or exit of firms.
Market Price
The present cost at which a service or asset is available for purchase or sale in a specific market.
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