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Continuous Improvement
An ongoing effort to improve products, services, or processes by making incremental improvements over time.
Current Performance
An assessment or measurement of ongoing activities or results within a given period, indicating the present state of an organization or individual's achievements.
Monopolistically Competitive
Refers to a market structure where many firms sell products that are similar but not identical, allowing for some degree of market power and product differentiation.
Long-run Equilibrium
A condition in the market where all firms in an industry are making zero economic profit, and there is an efficient allocation of resources.
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