Examlex
A market that generates a negative externality that has not been internalized generates an equilibrium quantity that is less than the optimal quantity.
Letter Grades
Symbols used in educational systems to represent the quality of a student's performance.
Median
The middle value in a data set when the values are arranged in ascending or descending order, or the average of two middle numbers if the dataset has an even number of observations.
Set of Data
A collection of related pieces of information or numerical values subject to analysis.
Mean
The central value of a numeric dataset, determined by summing all the numbers and dividing by the total number of values present.
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