Examlex
An ordinary glass lens forms an image by ____________ of light.
Public Ownership
The ownership of assets by the government or state, as opposed to private sector ownership, often found in utilities, transportation, and certain industries.
Total Surplus
The total net gain for society from producing and consuming a good, encapsulated by the addition of consumer surplus and producer surplus.
Profit Maximization
The technique a firm applies to set the price and production level for the best profit return.
Price
The sum of money needed to buy a product, service, or asset.
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