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Myopia is as a result of an error of light refraction in which
Decreasing-Cost Industry
An industry where production costs decrease as the industry grows, often due to economies of scale.
Long-Run Equilibrium
A state in which all factors of production and costs are variable, allowing firms to make adjustments such that supply equals demand, and no economic profits are earned.
Increased Demand
A situation where the desire or need for a product or service grows, often leading to higher sales or consumption.
Pure Competition
A market structure characterized by a large number of small firms, a homogeneous product, and easy entry and exit from the market.
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