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LONG-RUN PRODUCTION: An analysis of the production decision made by a firm in the long run. The central feature of this long-run analysis is returns to scale, which results in the long run even though all inputs are variable. Returns to scale are reflected in the long-run average cost curve as either economies to scale or diseconomies to scale.

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BANK PANIC

An economy-wide problem in the financial sector and the banking industry that triggers an economy-wide business-cycle contraction or even depression. Bank panics were common throughout the 1800s and early 1900s, during which time they where the primary cause of business-cycle downturns. Bank panics usually involved bank runs that spread from bank to bank throughout the economy.

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APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either a package of blank rewritable CDs or yellow cotton balls. Be on the lookout for defective microphones.
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This isn't me! What am I?

A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
"The time your game is most vulnerable is when you're ahead; never let up. "

-- Rod Laver, Tennis player

PBOT
Phildelphia Board of Trade
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