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Figure: Short-Run Equilibrium
-(Figure: Short-Run Equilibrium) Look at the figure Short-Run Equilibrium. It reflects a short-run inflationary gap. According to the labeling on the graph, the size of the inflationary gap is equal to:
Overhead Expenses
Costs that are not directly tied to the production of goods or services, such as rent, utilities, and administrative expenses.
Operating Profit
The profit earned from a firm's core business operations, excluding deductions of interest and tax.
Markdown
A reduction from the original or retail price of a product or service, often used to stimulate sales or clear inventory.
Real Estate Commission
The fee paid to a real estate agent or broker for their services, usually a percentage of the property's sale price.
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