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A Long-Run Equilibrium Is One Price-Quantity Combination That Exists as a Perfectly

question 18

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A long-run equilibrium is one price-quantity combination that exists as a perfectly competitive market moves from the short run to the long run.


Definitions:

Serial Bonds

Serial bonds refer to a type of bond issue that is divided into several parts, each maturing at different intervals over a period of time, allowing the issuer to phase out the repayment over several years.

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