Examlex
When a company positioned in the "middle" market introduces a lower-priced product line,this is an example of ________.
Social Cost
The total cost of an activity to society, including both private and external costs.
Private Cost
The costs that an individual or company incurs in the production of goods or services, excluding any externalities.
External Costs
Uncompensated costs incurred by someone who is not involved in the production or consumption of a good or service, typically relating to environmental damage or public health.
Market's Output
The total quantity of goods and services produced and offered for sale in a market during a specific period of time.
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