Examlex
A horizontal merger is a merger between firms in completely unrelated industries.
Total Cost
The aggregate cost of all inputs used in the production of goods or services, including fixed and variable costs.
Purely Competitive Seller
A seller in a market where there are many sellers and buyers, the product is standardized, and no single seller can influence the market price.
Shut Down
A temporary closure of a business or operation.
Marginal Cost
The expenditure required to produce one more unit of a product or service.
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