Examlex
On average an ant is 6 millimeters long. A millimeter is of a meter. A kilometer is 1000 meters. Change the ant s length to kilometers (km) and write that length in scientific notation.
Entry Barriers
Obstacles that make it difficult for new competitors to enter an industry or market.
Regulatory Standards
Specifications and guidelines established by authorities designed to ensure products, services, and actions meet required safety, quality, and performance criteria.
Competitive Price-searcher Market
A market structure where firms set their own prices because products are differentiated, giving them some degree of pricing power.
Average Total Cost
The cost per unit produced, found by taking the total production costs and dividing it by the quantity of items produced.
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