Examlex
____________________ clustering method defines the similarity between two clusters as the similarity of the pair of observations (one from each cluster) that are the most different.
Producer Surplus
The difference between what producers are willing to accept for a good or service and the actual price they receive, reflecting producers' benefit.
Costume Jewelry
Fashionable jewelry made from non-precious materials, intended for temporary use with specific outfits rather than as long-term investments.
Marginal Cost
Marginal cost refers to the added expense incurred from producing one more unit of a product or service.
Marginal Benefit
The increase in satisfaction or utility experienced from the consumption or production of one additional unit of a good or service.
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