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By non-excludability,economists mean the inability of some firms to prevent certain people from buying a product.
Resource Prices
The costs associated with acquiring the inputs needed for production, such as raw materials, labor, and capital.
Industry Output
The total amount of goods or services produced by a particular industry over a specific time period.
Decline
A decrease in the quantity, quality, or level of something, often indicating a negative trend.
Upward Sloping
A term describing a line on a graph that moves higher as you move from left to right, used in various economic contexts.
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