Examlex
What canal conveys tears from the eyes to the nasal cavity?
Economic Profit
The difference between a firm's total revenue and its total costs, including both explicit and implicit costs, reflecting the real profitability of the business.
Loss
The result of a company or individual spending more money than they receive.
Equilibrium
An equilibrium in the market where demand equals supply, causing price stability.
Kinked-demand Model
A model used to explain price stability in oligopolistic markets, suggesting that firms may not change their pricing in response to small changes in costs or demand due to a perceived kink in the demand curve.
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