Examlex
Which of the following blood tests measures how long it takes for a clot to form?
Product Markets
Markets where goods and services produced by businesses are sold to households.
Negative Externalities
These are costs that are suffered by a third party as a result of an economic transaction, which are not reflected in the market price.
Positive Externalities
Benefits that are enjoyed by a third-party or the society at large as a result of an economic transaction.
Optimal Output
The level of production at which a firm or economy can produce goods at the lowest average cost, maximizing efficiency.
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