Examlex
AES is a block cipher that translates fixed-size blocks of unencrypted data into corresponding fixed-sized blocks of encrypted data.
MR
Marginal Revenue, the increase in revenue that results from the sale of one additional unit of output.
ATC
Average Total Cost, a calculation used in economics to find the total cost per unit of output when all fixed and variable costs are taken into account.
Economic Profits
The profit a company makes after accounting for both its explicit and implicit costs, including opportunity costs.
Pure Monopolies
Markets where a single seller dominates, offering a unique product with no close substitutes, controlling prices and output.
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