Examlex
Where was gravitational lensing first observed?
Long Run
A period of time in which all factors of production and costs are variable, and firms can adjust all inputs.
Competitive Price-searcher
A market condition where sellers actively set prices and seek to differentiate their products in an effort to attract consumers in a competitive environment.
Economic Losses
Financial losses incurred by businesses or economies, often due to inefficiencies, misallocation of resources, or external factors.
Barriers to Entry
Barriers to entry are obstacles that make it difficult for new competitors to enter a market, including high initial costs, licensing requirements, and strong brand loyalty among consumers.
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