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Current U.S. Forest Service policy is to:
Long-run Equilibrium
A state in economics where all factors of production and market forces are balanced, and there are no external pressures inducing change.
Output
Output refers to the total amount of goods and services produced by a company, industry, or economy within a specific period.
Monopolistic Competition
A market structure characterized by many sellers offering differentiated products or services, allowing for some degree of market power and price control.
Economic Profits
Profits earned by a firm after accounting for both explicit and implicit costs.
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