Examlex
According to Lewis, what type of emotions are the most basic, such as anger, fear, disgust, surprise and happiness?
Nonrival Good
Good for which the marginal cost of its provision to an additional consumer is zero.
Marginal Social Cost
The additional cost to society of producing one extra unit of a good or service, considering both private costs and externalities.
Marginal Private Cost
The additional cost incurred by the producer for producing an extra unit of a good, not considering external effects.
Equilibrium
A state where market supply and demand balance each other, and, as a result, prices become stable.
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