Examlex
The poverty line is an absolute standard and is based on the cost of providing an adequate diet.
Marginal Benefit
The extra pleasure or benefit gained by an individual from consuming one more unit of a product or service.
Profit-Maximizing Principle
The economic principle that firms operate to achieve the highest possible profit from their operations, by adjusting output levels, pricing, or resource usage.
Marginal Analysis
An examination of the benefits and costs of an additional unit of change in economic decisions.
Marginal Benefit
The added gratification or usefulness that an individual acquires from the consumption of an additional unit of a good or service.
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