Examlex
What is an MMOG?
Industry Expands
This phrase describes the process where the total output or the number of firms in a given industry increases due to factors such as innovation, increased demand, or favorable policies.
Long Run
A period in economic analysis where all factors of production are variable, allowing for complete industry adjustment.
Industry Supply
The total output of goods or services that firms in a specific industry are willing and able to sell at various prices, over a certain period of time.
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