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The demand for capital by a firm is based on the demand for the product that the capital produces. This relationship is referred to as
Increasing-Cost Industry
An industry in which the costs of production increase as the industry's output expands, typically due to resource limitations or increased demand for inputs.
Slope
A measure of the steepness or incline of a line, representing the rate at which y-values change for each unit increase in x-values.
Pure Competition
A market structure characterized by a large number of small firms, identical products, and free entry and exit from the market.
Long-run Adjustments
Changes a firm or industry makes over a long period to adapt to changes in demand, technology, or other economic factors.
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