Examlex
Which of the following groups are underrepresented in the Senate because of the "equal representation" rule?
Output Increase
The rise in the quantity of goods or services produced by a company or economy over a certain period.
Long-run Cost Structure
The pattern of costs that a firm faces over a long period when it is free to adjust all of its input levels, including investment in new plant and equipment.
Competitive Industry
An industry characterized by many firms offering similar or slightly differentiated products, leading to a high degree of competition and typically lower prices.
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