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When a monopolistically competitive industry is in long-run equilibrium
Steel Prices
The cost per unit weight of steel, which can vary based on factors like demand, supply, input costs, and economic conditions.
Plastic
A synthetic material made from a wide range of organic polymers that can be molded into shape while soft, and then set into a rigid or slightly elastic form.
Futures Contract
This is a standardized legal agreement to buy or sell something at a predetermined price at a specified time in the future, between parties not known to each other.
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