Examlex
Some economists argue that higher inflation rates might be good if the consequence is greater growth in aggregate demand.
Economic Profit
The total revenue minus the opportunity costs of all inputs, a measure that considers both explicit and implicit costs.
Profit-Maximizing Price
The price level at which a company can make the highest profit, balancing between sales volume and profit margin.
Panel
A group of individuals selected to discuss, investigate, or make decisions about a particular topic, or a longitudinal statistical study in which the same subjects are observed repeatedly over a period of time.
Long-Run Equilibrium
A state in which all factors of production and outputs are variable, leading to a situation where no economic agent has the incentive to alter their behavior.
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