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In the long run,fixed costs are
Classical Model
An economic theory emphasizing that markets function best without government interference, focusing on long-term growth by ensuring goods and labor markets are in equilibrium.
Aggregate Supply
The sum of all products and services that enterprises in an economy expect to sell during a defined time span.
Price Level
The mean of current prices for all goods and services generated within the economy.
Keynesian Theory
An economic theory proposing that active government intervention in the marketplace and monetary policy is the best method of ensuring economic growth and stability.
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