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What effect did industrialization have on life expectancy in high-income countries?
Legal Barriers
Restrictions established by law or regulation that control how businesses operate, often to limit competition or protect consumers.
Short Run
In economics, a period in which at least one factor of production is fixed, allowing for limited adjustments to changes in demand or supply.
Long Run
A period in economics where all resources and inputs can be fully adjusted or changed, contrasting with the short run where some are fixed.
Marginal Revenue
The revenue uplift experienced by selling an additional unit of a product or service.
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