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Describe the routes taken by the lateral pathways.
Constant-cost Industry
An industry in which the input prices do not change as the industry output changes, leading to a supply curve that is perfectly elastic.
Price Per Unit
The cost assigned to a single unit of a product or service, used to determine the total price based on the quantity purchased.
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.
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