What Is Meant by the Term "Excess Capacity" as It

question 194

Essay

What is meant by the term "excess capacity" as it relates to monopolistically competitive firms?

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Definitions:

Distributive Fairness

Refers to the perceived fairness of outcomes and resource distributions within an organization or social group.

Procedural Fairness

The perceived fairness of the processes and methods used to make decisions and resolve disputes.

Input/Outcome Ratio

is a concept in equity theory that refers to an individual's perception of the fairness of their work input compared to the outcomes or rewards they receive.

Procedural Unfairness

The perception that the processes used to make decisions or resolve disputes are unjust, biased, or lacking in transparency.