Examlex
_____ computing refers to widespread applications and deployment of devices that know users, their devices, and their locations and serve as intelligent assistants to businesses and individuals.
Average Expenditure
The total amount spent on a specific good or service divided by the quantity purchased, indicating the average amount an individual pays for a unit of that good or service.
Extra Unit
Refers to an additional unit of production or service, considering marginal costs or benefits associated with producing or consuming one more unit.
Monopsonistic Factor Market
A market structure where there is only one buyer for a particular factor of production, leading to monopsony power.
Efficient Level
An optimal state of allocation of resources where any changes might lead to a decrease in efficiency or utility.
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