Examlex
When a monopolistically competitive firm is in long-run equilibrium, average total cost is at its minimum.
Commercial Bank
A commercial bank is a financial institution that offers a range of services including accepting deposits, providing loans, and offering investment products to individuals and businesses.
Liability
A financial obligation or responsibility that an individual or entity owes to another, which is required to be settled in the future.
Required Reserve Ratio
The fraction of deposits that banks are required to hold in reserve and not lend out.
Checkable Deposits
Bank account balances that can be easily withdrawn or used for payments through checks, debit cards, or electronic transfers.
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