Examlex
Horizontal equity can be difficult to assess because it is difficult to compare the similarity of tax payers.
Competitive Industry
An industry characterized by numerous firms, where no single firm can dictate the price of goods or services.
Marginal Cost
The cost related to creating an additional unit of a product or service.
Above Marginal
This is not a standard economic term and lacks a universally recognized definition. NO
Competitive Firms
Businesses that operate in markets with many sellers, where each seller has no control over the market price and must accept the market price for its products or services.
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