Examlex
What is the basic building block for all silicate minerals?
Increasing-Cost Industry
An industry in which production costs increase as the industry's output expands.
Constant-Cost Industry
An industry where the cost of production does not change as the industry's output changes.
Increasing-Cost Industry
An industry in which costs per unit of output increase as the scale of output is increased due to factors such as shortages of resources or higher input costs.
Long-Run Equilibrium
A state in economics where all factors of production and outputs are variable, allowing for the adjustment to changes in demand, supply, and prices, resulting in a situation where firms earn normal profit.
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