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MATCHING
Match each term with the correct statement below.
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Firm's Output
The total amount of goods or services produced by a firm over a given period of time.
Profit Per Unit
The amount of income that a company earns above its costs for producing one unit of a good or service.
Short Run
A period in which at least one input, such as capital, is fixed, allowing only some factors, like labor, to change in quantity.
Long Run
A period in economics during which all inputs, including capital, are variable, allowing firms to adjust all aspects of production in response to market changes.
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