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If the demand for a product in an increasing cost perfectly competitive industry decreases, we would expect that price in the long run would ________ and the number of firms in the market would ________.
Capital Equipment
Long-term, tangible assets acquired or used to produce goods and services, such as machinery, buildings, and vehicles.
Technological Knowledge
Information and expertise related to the practical application of science and engineering in creating products, processes, and services.
Per Capita Energy Consumption
The average amount of energy used per person within a specific area or country.
World Population
The total number of humans currently living on Earth, often estimated and subject to change due to birth rates, death rates, and migration patterns.
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