Examlex
Congress has created a number of __________ courts to adjudicate cases in highly specialized areas of concern, such as taxes, patents, and maritime law.
Perfect Competitor
A theoretical firm in a perfectly competitive market where it is a price taker, and there are no barriers to entry or exit.
Long Run
A time frame where all production elements and expenses can change, enabling companies to modify all resources.
Optimum Efficiency
The most favorable condition where resources are used in the best possible way to achieve maximum productivity and economic benefits.
Perfect Competitor
An individual or company within a perfectly competitive market that cannot influence the market price and must accept the prevailing market price.
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