Examlex
While riding on a train,David notices that the trees and telephone poles close to the tracks seem to flash by,while the buildings,trees,and mountains that are farther away seem to move by more slowly.This phenomenon is called_____________
Long-Run Equilibrium
A state in economics where all factors of production and outputs in an industry or market adjust fully to any changes, leading to a stable condition where no participant has an incentive to change behavior.
Spillovers
Economic events in one context that have effects on a third party or in a different context, often external to the initial economic activity.
Marginal Cost
The additional cost incurred by producing one extra unit of a good or service.
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