Examlex
List and explain the three levels of distribution intensity.
Long Run
A period of time in economics during which all factors of production and costs are variable, allowing companies to adjust to market changes fully.
Price Floor
A government-imposed minimum price charged on goods and services, aimed at preventing prices from going too low.
Equilibrium Price
The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers.
Non Binding Price Floor
A non binding price floor is set below the market equilibrium price, having no effect on the market because it does not restrict supply or demand.
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