Examlex
The more management levels through which a message passes, the
Expand
To increase the scale, scope, or size of something, often used in the context of business growth or economic expansion.
Increasing-cost Industry
An industry in which production costs increase as output expands, often due to scarce resources or rising input prices.
Long-run Equilibrium
The condition in which all factors of production can be adjusted, leading to a situation where no firm in the industry wishes to change its output.
Market Price
The current value at which an asset or service can be bought or sold in an open market.
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