Examlex
Controlling the activity of an enzyme is an inefficient use of the organism's energy.
Wage
The fixed regular payment, typically calculated on an hourly, daily, or piecework basis, made by an employer to an employee for their labor.
Marginal Revenue Product Curve
A curve showing the additional revenue a firm earns by employing one additional unit of input, holding other factors constant.
Competitive Seller
A seller in a competitive market who takes the market price as given and whose output decision does not affect the market price.
Monopolist
An individual or entity that is the sole provider of a particular product or service in the market, giving them the power to influence price and market conditions.
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