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Long-term growth in production can be explained by:
Price of X
The amount of money required to purchase a unit of product X, often influenced by supply and demand dynamics.
Consumer's Income
The total amount of income or earnings available to a consumer for spending and saving after taxes are paid.
Budget Line
A graphical representation showing all possible combinations of two goods that can be purchased with a given budget at fixed prices.
Prices
The monetary value assigned to goods and services, determined by factors like supply and demand.
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