Examlex
After carefully removing all potential sources of electronic "noise," including bird droppings inside the microwave horn antenna,Penzias and Wilson realized that they were actually detecting radiation from space.
Monopolistically Competitive
A market structure where many companies sell products that are similar but not identical, allowing for some degree of market power and price control by individual firms.
Profit-Maximizing Level
The optimal point at which the difference between total revenue and total cost is the greatest, indicating the highest possible profit for a firm.
Short Run
a period in economics during which at least one input is fixed and cannot be changed, limiting a firm's ability to adjust production.
Fixed Costs
Expenses that do not change in proportion to the activities of a business within a certain range of operation, such as rent, salaries, and insurance.
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