Examlex
Some foods are so high in acid that they are capable of making the acid in the stomach even stronger.
Differentiated Products
Goods or services that are distinguished from others by quality, design, branding, or other features, even if they serve the same purpose.
Monopolistic Competitor
A market structure where many companies sell products that are similar but not identical, allowing for some degree of market power and product differentiation.
Short Run
A period in economics during which at least one factor of production is fixed in quantity; the opposite of the long run, where all factors of production are variable.
Long Run
A period of time in economics during which all factors of production and costs are variable, allowing firms to adjust all inputs.
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