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What is the shape of the LRAC curve for a firm enjoying constant returns to scale?
Market Niche
A specific, focused segment of the market that a company aims to serve with its products or services.
Gap Khakis
A specific line of casual pants made by the Gap Inc., characterized by their khaki fabric.
Rationalization
The process of replacing traditional and emotional thought with reason and practicality, often in the context of organizational and technological changes.
Unintended Consequences
Outcomes that are not the ones foreseen and intended by a purposeful action.
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