Examlex
The Truth-in-Lending Act and the Truth-in-Savings Act require by law that the APR be disclosed on all consumer loans and savings plans and that it be prominently displayed on advertising and contractual documents.
Industry Exit
The process by which a company ceases operations in a specific industry, typically due to financial losses, market competition, or changing industry conditions.
Long Run Adjustments
Changes or adaptations made by firms in response to long-term changes in market conditions, where all inputs and production capacities can be varied.
Constant-cost Industry
An industry where the costs of production, including inputs and technology, do not change as the total output of the industry changes.
Long-run Equilibrium
A state in which all aspects of an economy or market are balanced, and all adjustment processes have been completed over time.
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