Examlex
Which of these factors is not a risk factor?
Elastic
A characteristic of goods where their demand or supply changes significantly when the price changes.
Monopolistic Competitor
A market structure where many firms offer products or services that are similar but not perfect substitutes, allowing for some degree of market power.
Excess Capacity
describes a situation where a firm produces less than its total output capacity, usually resulting in inefficiencies and higher production costs.
Economic Profit
The difference between total revenue and total economic costs, including both explicit and implicit costs, reflecting the true profitability of a firm.
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