Examlex
The salinity (mostly NaCl) in some parts of the Great Salt Lake (Utah) is ; this is sometimes expressed as 270 parts per thousand, meaning of salt per liter of solution. Estimate the height of a column of water that can be supported by the osmotic pressure between Great Salt Lake water and freshwater. The density of a 27\% salt solution is .
Minimum ATC
Minimum ATC, or minimum average total cost, is the lowest point on the average total cost curve, representing the most efficient scale of production for a firm.
Entry Barriers
Obstacles that make it difficult for new competitors to enter a market, which may include high capital requirements, brand loyalty, or regulatory policies.
Marginal Costs
The cost of producing one additional unit of a good or service.
Profit-Maximizing
The process by which a company determines the price and output level that returns the greatest profit.
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