Examlex
Divide and simplify.
Short Run
A period during which at least one factor of production is considered fixed, limiting the capacity to adjust production levels.
Continue to Operate
A business decision to keep running the operations despite challenges or low profitability in the short term.
Fixed Costs
Expenses that do not change in proportion to the activity of a business, such as rent or salaries.
Monopolistically Competitive
A market structure in which many firms sell products that are similar but not identical, allowing for some degree of market power.
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