Examlex
All of the following are examples of fossils EXCEPT:
Long Run
In economics, a period during which all factors of production and costs are variable, and firms can enter or exit the market.
Nonprice Competition
A marketing strategy in which businesses attempt to attract customers through methods other than lowering prices, such as product differentiation, quality, service, and advertising.
Pure Competition
A market setup defined by many small businesses, identical products, unrestricted entry and departure, and complete information transparency.
Long-Run Average
A concept referring to the time period in which all inputs can be adjusted by firms, relating to production costs and decisions.
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