Examlex
With a hunting gearset, one tooth on the pinion gear meshes with the same tooth on the ring gear again and again, rather than "hunting" for all of the rest of the gear teeth.
Unit Price
The cost per unit of a product or service.
Constant Cost
An economic scenario where the cost of producing an additional unit of a good or service remains unchanged, regardless of the scale of production.
Equilibrium Quantity
The quantity of goods supplied is equal to the quantity demanded at a given price level.
Equilibrium Price
The price at which the quantity of a good supplied equals the quantity demanded, resulting in no surplus or shortage in the market.
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