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If a vector has components Ax < 0, and Ay < 0, then the angle that this vector makes with the positive x-axis must be in the range
Long-Run Equilibrium
A state in which all firms in an industry achieve zero economic profit, resulting in market stability over time.
Diseconomies of Scale
The situation when a firm’s average total cost of producing a product increases in the long run as the firm increases the size of its plant (and, hence, its output).
Underutilized
Refers to resources or capacities not being used to their full potential, often implying inefficiency or lost productivity.
Misleading Advertising
Promotional activities that intentionally or unintentionally deceive consumers about the virtues of a product or service.
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