Examlex
Use a sum or difference identity to find the exact value.
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Business-Stealing Externality
Business-Stealing Externality occurs when a new entrant in a market captures a portion of the incumbent firm's customers, potentially leading to costs not accounted for in the entrant's decisions.
Spillover Benefits
These are benefits experienced by those who are not directly involved in economic transactions or activities; they result from the positive externalities of such transactions.
Advertising
The act of promoting products, services, or brands through various media channels to inform, persuade, and influence purchasing decisions.
Socially Inefficient
A situation where resources are not allocated in the most beneficial way for society as a whole, often resulting in market failure.
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