Examlex
Discuss whether the application of strict liability is fair to someone adjudged to be liable for the same.
Economies Of Scale
The cost advantages that enterprises obtain due to their scale of operation, leading to decreased costs per unit.
Network Effects
The phenomenon where the value or utility of a product or service increases as more people use it, often seen in digital and social media platforms.
Consumer Surplus
The difference between the highest price a consumer is willing to pay and the actual market price they pay.
Monopoly
A market structure characterized by a single seller or producer dominating the entire market, with no close substitutes available.
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