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What region of an atom contains the protons and neutrons?
Competitive Industry
An industry in which no single firm has the power to influence the price of its product; there are many sellers and buyers, and products are largely homogeneous.
Limited Supply
A condition where the availability of a particular good is restricted in the market, often leading to increased prices.
Production Efficiency
A state in which the economy or a production process can no longer produce additional amounts of a good without lowering the production level of another product.
Long-Run Equilibrium
A state in which all factors of production can be adjusted, market supply equals demand, and economic agents have no incentive to change their behavior, leading to a steady-state market condition.
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