Examlex
How many atoms are present in a sample of pure iron with a mass of 300 g? (The atomic mass of iron = 56 and NA = 6.02 x 1023)
Product Differentiation
Identifying unique features of a product or service to elevate its attractiveness to a chosen target group.
Monopolistically Competitive
A market structure where many firms sell products that are similar but not identical, allowing for some degree of market power and differentiation.
Long-Run Equilibrium
A state in which all firms in a perfectly competitive market achieve economic equilibrium, where no firm has an incentive to change its output and all adjustments have been made.
Excess Capacity
A situation where a firm is producing less than the maximum possible output due to insufficient demand or other factors.
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