Examlex
Whose research provided the scientific justification for the U.S.Supreme Court to end the practice of racially segregated education in the 1954 Brown vs.Board of Education decision?
ATC
Stands for Average Total Cost, which is the total cost of production (fixed plus variable costs) divided by the number of units produced.
Economic Profits
A reiteration emphasizing the calculation that includes total revenues minus total costs, where total costs consider both the explicit and implicit costs.
Competitive Price-searcher Market
A market structure where firms have some degree of market power, enabling them to set prices above marginal cost, but must consider competitor prices to attract consumers.
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