Examlex
About __________ percent of patent applications are approved.
Nonexcludable
A characteristic of a good or service where it is impossible to prevent individuals from enjoying its benefits once it is provided.
Marginal Social Cost
The additional cost to society as a whole from producing one extra unit of a good or service, including both private costs and externalities.
Rival
A competitor or adversary who is in competition for the same objective or for superiority in the same field.
Excludable
Describes a good or service for which it is possible to prevent non-paying customers from accessing it.
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