Examlex
Describe a current hypothesis to explain the presence of functional DNA in mitochondria and chloroplasts.
Natural Monopoly
A market condition where a single firm can supply a product or service at a lower cost than any potential competitor, often due to economies of scale.
Large Fixed Costs
Expenses that do not change in total regardless of changes in the volume of goods or services produced.
ATC
Average Total Cost, which is calculated by dividing the total cost of production by the quantity of output produced.
Price Elasticity Of Demand
The ratio of the percent change in the quantity demanded to the percent change in the price as we move along the demand curve.
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