Examlex
The ____ represents a time about 12,000 years ago when northeastern North America and northern Europe reverted to glacial conditions.
Unimpeded Entry
A market condition where there are no barriers for new firms to enter and compete in the industry.
Purely Competitive Firm
A company that operates in a market where there are many buyers and sellers, none of which can influence market prices significantly.
Long Run
A period of time during which all factors of production and costs are variable, in contrast to the short run where some are fixed.
Market Supply
The total amount of a product or service that is available to consumers, determined by the sum of all individual suppliers' outputs in the market.
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