Examlex
The development of penicillin-resistant bacteria represents an example of ____.
Own Wealth
The total value of all financial and non-financial assets owned by an individual or entity, minus any liabilities.
Pure Monopolist
A sole provider of a unique product or service with no close substitutes, giving them significant control over pricing.
Economies of Scale
A condition where the average costs of production fall as the output level increases, leading to a more efficient production process.
Horizontal Demand
Refers to a market situation in which the demand for a product or service is not sensitive to changes in its price, often illustrated as a horizontal line on a demand curve graph.
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