Examlex
The establishment of the hoplite military system based upon the phalanx formation was an entirely a military phenomenon, having no impact on the political or social life of the Greek city-state.
Marginal Revenue
The additional income from selling one more unit of a good; sometimes equal to price.
Pure Monopoly
A market structure where a single seller controls the entire supply of a product or service, with no close substitutes available.
Monopolistic Competition
A market structure characterized by many firms selling products that are similar but not identical, leading to some degree of market power in setting prices.
Economies of Scale
A proportionate saving in costs gained by an increased level of production, leading to lower costs per unit as volume increases.
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