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You hear the sentence "Liam was out in the yard digging in the garden," and subsequently you recognize the word mole faster as the animal and not in the sense of being a spy. Which is not a realistic explanation for this effect?
Efficient Use of Resources
An economic condition where resources are allocated in the most effective manner possible to meet the needs and desires of consumers.
Long-Run Equilibrium
A state in which all firms in a market or industry are making normal profits and there is no incentive for firms to either enter or exit the market.
Price
The monetized value required, forecasted, or offered in return for a service or good.
Marginal Cost
The increase in total cost that arises from an extra unit of production, focusing on the cost variation from an additional output.
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