Examlex
What term refers to the number of new cases of a disorder that occur over a given time period?
Marginal Cost
The rise in costs related to the production of one more unit of a good or service.
Equilibrium Price
The price at which the quantity of goods supplied equals the quantity of goods demanded in the market.
Purely Competitive Industry
An industry consisting of many buyers and sellers, where each firm is a price taker and the products are homogeneous.
Pure Monopoly Model
Describes a market structure in which a single seller sells a unique product in the market without any competition.
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