Examlex
The total physical, chemical, and biological requirements of a species are said to be its ________.
Long Run
the period in which all factors of production and costs are variable, allowing for all possible adjustments, including the adoption of new technology.
Short-run Equilibrium
A condition in which demand and supply are equal in a particular market or industry, but only for a temporary period due to fixed factors in the short term.
Monopolistic Competition
A market structure characterized by many firms offering products that are similar but not identical, leading to competitive pricing and product differentiation.
Monopoly
A market structure characterized by a single seller selling a unique product in the market.
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