Examlex
The __________ is a global institution whose purpose is to promote free trade and open markets around the world.
Long-run Equilibrium
The state in which, over time, supply and demand are balanced, and all adjustments to economic conditions have been made, resulting in stable prices and outputs.
Marginal Cost
The hike in expense for producing another unit of a product or service.
Marginal Revenue
The extra revenue a company earns by selling an additional unit of a product or service.
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