Examlex
An American option can be exercised any time up to,and including,the maturity date whilst European options can only be exercised on the maturity date.
Monopolistically Competitive
A market structure where many firms sell products that are similar but not identical, each having some market power.
Economic Profits
The extra amount businesses earn after subtracting all of their costs, including opportunity costs.
Long Run
A period in which all factors of production and costs are variable, allowing for all adjustments to be made within a market or economy.
Monopolistic Competition
A market structure characterized by many firms selling products that are similar but not identical, allowing for competition based on quality, brand, and price.
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