Examlex
What is the minimum education requirement for most U.S. probation officers?
Monopolist
An entity or individual that has exclusive control over the supply of a good or service, enabling them to manipulate market prices.
Unregulated Monopolists
A single supplier in a market without government intervention or regulation, potentially leading to higher prices and lower outputs.
Marginal Cost
The additional cost incurred when producing one more unit of a good or service.
Economic Profit
The total revenue of a firm minus its explicit and implicit costs, representing the surplus generated beyond the opportunity cost.
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