Examlex
What relationship states that the partial pressure of a solvent over a solution is given by the vapor pressure of the pure solvent times the mole fraction of the solvent in the solution?
Marginal Cost
The incremental cost involved in producing an additional unit of a product or service.
Natural Monopolist
A single supplier in a market that can supply the entire market at a lower cost than any combination of two or more suppliers.
Socially Efficient
A situation in which a market or economy allocates resources in a way that maximizes the overall welfare of society.
Natural Monopolist
A company that can provide goods or services at a lower cost than any competitors can, due to economies of scale, often leading to a monopoly in the market.
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