Examlex
Coal fired power plants waste about two-thirds of the energy released by burning the coal.
Reserve Price
The minimum price set by the seller that must be met or exceeded at an auction for the sale to proceed.
Profit
The financial gain made after all expenses have been deducted from total revenues.
English Auction
A bidding process where participants bid openly against one another, with each subsequent bid higher than the previous, until the highest bid wins.
Rational Self-Interest
The principle that individuals prioritize actions that result in the most personal benefit, assuming rational decision-making processes.
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