Examlex
Who were the two anthropologists who studied the Hopi of the southwestern United States and concluded that language not only expresses our thoughts but also shapes the way we think?
Constant-Cost Industry
An industry in which the costs of production (including input prices) remain constant regardless of changes in the industry's output level.
Long-Run Equilibrium
A situation in which, after all adjustments have been made, all firms in a perfectly competitive market earn zero economic profit and no firm has an incentive to change its output.
Market Price
The existing rate at which a product or service may be purchased or sold within a market environment.
Competitive Market
A market structure where many firms offer products or services that are similar, leading to high levels of competition.
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