Examlex
Using all capital letters when writing an e-mail is equivalent to shouting in a conversation.
Airlines
Entities that deliver passenger and freight transportation via air.
Short Run
A period in which at least one factor of production is fixed and cannot be changed, influencing production and cost.
Long Run
A time period in economics sufficient for all markets to adjust, including those for labor and capital, with all factors of production and costs variable.
Excess Capacity
A situation in which a firm is producing at a lower scale of output than it has been designed for, often leading to inefficiency and increased costs.
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