Examlex
Edward Titchener is to structuralism as William James is to
Efficiency
The optimal allocation of resources to maximize desired outputs without wasting any input.
Producer Surplus
The difference between the amount a producer is willing to accept for a good or service and the actual price they receive.
Monopolist
An entity or individual that holds a monopoly, having exclusive control over the supply of a particular good or service in the market.
Marginal Cost
The uplift in collective cost emerging from the making of an additional unit of a good or service.
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