Examlex
The Pillsbury Doughboy is an example of a
Efficient Level
A point at which resources are allocated in the most effective manner, maximizing output without wasting resources.
Excludable
A characteristic of a good or service that allows its owner to prevent others from using it without permission.
Nonrival
A characteristic of a good whereby one person's consumption does not diminish the availability of the good for consumption by others.
Marginal Social Cost
The additional cost incurred by society as a whole due to the production of one extra unit of a good or service.
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