Examlex
A symptom of groupthink is an illusion of invulnerability,which leads to unwarranted optimism and excessive risk taking by a group.
Marginal Cost
The growth in complete cost caused by the manufacture of one more unit of a good or service.
Artificially Scarce Good
A product or service whose availability is limited due to artificial constraints, such as legal restrictions or monopolistic practices, rather than natural scarcities.
Competitive Market
A market structure where many firms offer products or services that are similar, allowing consumers to find substitutes easily.
Efficient Price
A market price that reflects all available information and results in an allocation of resources that maximizes overall utility.
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