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When supply and demand both increase, equilibrium:
Long Run
A period in economics where all inputs or factors of production can be varied, with no fixed factors, allowing for full adjustment to changes.
Economic Profit
The divergence between overall financial returns and comprehensive expenses, integrating both apparent and implied costs.
Long Run
In economics, a period in which all factors of production and costs are variable, allowing all inputs to be adjusted.
Average Variable Cost
The total variable costs of production divided by the quantity of output produced, representing the cost per unit of output.
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