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A researcher's Excel results are shown below using Femlab (labor force participation rate among females) to try to predict Cancer (death rate per 100,000 population due to cancer) in the 50 U.S.states.
Which of the following statements is not true?
Decreasing-cost Industry
An industry that experiences lower production costs as the industry output expands, often due to economies of scale.
Relevant Inputs
Factors or resources that directly impact the production process or decision-making in a specific context.
Decreasing-cost Industry
An industry where the cost per unit of output decreases as the scale of production increases.
Long-run Equilibrium Price
The price level at which the quantity supplied equals the quantity demanded, achieved over a period where all inputs can be varied by producers.
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