Examlex
Julian was given a gold coin originally purchased for $1 by his great-grandfather 50 years ago. Today the coin is worth $450. The rate of return realized on the sale of this coin is approximately equal to
Supply
The whole sum of a service or product that is up for sale at a certain price tier in a specific marketplace.
Decreasing-Cost Industry
An industry where the average cost of production decreases as the industry's output increases, often due to economies of scale.
Long-Run Supply Curve
A graphical representation showing the relationship between the market price of a good and the quantity of it that producers are willing to supply when all production inputs are variable.
Downward-Sloping
Describes a line or curve on a graph that descends from left to right, indicating a negative relationship between two variables.
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