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The PowerPoint Viewer allows users to view presentations created with PowerPoint 2003, 2000, and 97.
Long Run
A period of time in which all factors of production and costs are variable, allowing firms to adjust all inputs in response to market changes.
Inputs
Inputs are the resources such as labor, materials, and capital that are used in the production process to create goods and services.
Industry Entry
The process by which a new competitor or business enters into an industry, facing various barriers such as high startup costs, regulatory requirements, and competition.
Short Run
A period of time during which at least one of a firm's inputs is fixed and cannot be changed.
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