Examlex
Explain why the percentage of the population that is age 65 and over is a simple indicator of population aging. Discuss the limitation of using this measure an indicator of population aging.
Quantity
The amount or number of a material or immaterial good considered as a unit or units.
Economic Profits
Profits after subtracting both explicit and implicit costs from total revenue, representing earnings that exceed the opportunity cost of all resources.
Monopolistic Competition
A market structure in which many companies sell products that are similar but not identical, allowing for competition on factors other than price.
Long Run
A period in economics where all factors of production and costs are variable.
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