Examlex
This is an outdated brain operation in which nerve pathways between the frontal lobe and the thalamus and hypothalamus are cut, in hopes of treating psychological disorders.
Efficient Price
A market price that reflects all available information and results in an allocation of resources that maximizes overall utility.
Marginal Cost
The incurred cost from generating one more unit of a product or service.
Deadweight Loss
The loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved or is not achievable.
Marginal Cost
The increase in total cost that arises from producing an additional unit of a good or service.
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