Examlex
A definition is too narrow when:
Reasonable Substitutes
Alternative products or services that can satisfactorily replace others, meeting the same needs or wants.
TC (Total Cost) Curve
A graphical representation that shows the total cost of production at different levels of output.
Value to Consumers
The maximum amount of money a consumer is willing to pay for a good or service, reflecting the perceived benefit or utility they expect to obtain.
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