Examlex
If John borrowed $30 000 from his mother at a rate of 5% per annum compounded quarterly for 5 years,what is the dollar value of the interest on the loan?
External Cost
A cost of a transaction that affects someone who is not directly involved in the transaction.
Profit Maximizing
A strategy or point at which a firm decides the price and output level that leads to the maximum profit.
MSB Curve
The Marginal Social Benefit curve, showing the extra benefit to society of producing one more unit of a good.
MCA Curve
A graphical representation showing the relationship between the amount of pollution abated and the marginal cost of abatement.
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