Examlex
The reasonableness of searches pursuant to search warrants depends on
I. the existence of probable cause.
II. the extent of the search.
III. the particularity of the warrant.
IV. the manner in which the police enter the place to be searched.
Marginal Cost
The addition to total cost from producing one additional unit of a product.
Perfectly Competitive Firm
A perfectly competitive firm operates in a market where there are many buyers and sellers, the product is homogenous, and there is free entry and exit from the market.
Economic Profit
The gap in financial terms between total earnings and all financial burdens, considering both express and tacit costs.
Short Run
A period of time during which at least one of a firm's inputs is fixed, limiting the firm's ability to adjust to changes in demand or production costs.
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