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If an industry's long-run supply curve slopes downward, then the industry is
Lump Sums
A one-time payment for a sum of money, rather than a series of payments over time.
Raises
An increase in salary or wages, typically awarded to an employee based on performance, market adjustments, or as part of a promotion.
Merit Pay
A compensation strategy that rewards employees based on their performance and achievements, rather than on seniority or hours worked.
Disadvantages
The negative or less favorable aspects of a situation, decision, or condition.
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