Examlex
Light-emitting diodes are semiconductors that emit light when a current is passed through them. What is the key factor that must be changed to change the wavelength of the emitted light in an LED?
Fixed Costs
Costs that remain constant regardless of the amount of goods produced or units sold, including expenses like rent, wages, and insurance premiums.
Short Run
A period in economic analysis where at least one factor of production is fixed, limiting adjustments to changes in demand or supply.
Long Run
A period in economics sufficient for all markets to reach equilibrium, where all inputs and outputs can be varied by firms, not constrained by existing physical capital.
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