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Constant-Cost Industries
Industries where the costs of production do not change as the total output increases or decreases.
Economic Efficiency
A state where resources are allocated in a way that maximizes the production of goods and services.
Constant-Cost Industry
An industry in which the costs of production, including input prices, do not change as the industry's output changes.
Unit Price
The cost assigned to a single unit of a product or service, making it easier to compare the value of similar products or services.
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