Examlex
A ____ magnet will keep its strength after the magnetizing force is removed; that is, the magnet maintains its orderly atomic arrangement.
Short Run
A period in economics during which at least one input is fixed, limiting the immediate capacity to adjust production levels.
Monopolistic Competitive
A market structure characterized by many firms selling products that are similar but not identical, allowing for significant differentiation and some degree of market power.
Long Run
A period of time in which all factors of production and costs are variable, allowing companies to adjust all aspects of their operations.
Economic Profits
Economic profits are the financial gains that occur when the revenue from business activities exceeds the costs, expenses, and the opportunity costs of all resources employed.
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