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In Macroeconomics, the Long Run Refers To

question 129

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In macroeconomics, the long run refers to:


Definitions:

Selling Price

The amount of money for which a good or service is offered for sale to consumers.

Similar Triangles

Triangles that have identical angles and proportional sides but may differ in size.

Proportional

Being proportional means two quantities maintain a constant ratio or relationship relative to one another, exemplified by the equation \(y = kx\), where \(k\) is the constant of proportionality.

Length

The measurement of something from end to end or the extent of something along its greatest dimension.

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