Examlex
Sandra Harding's insistence on local knowledge is based upon the claim of traditional Western science that it can discover "Truth" that is value-free and accessible to any objective observer.
Market Price
The current price at which an asset or service can be bought or sold in the marketplace.
ATC
Average Total Cost, the total cost per unit of output when all fixed and variable costs are considered.
Perfectly Competitive Firm
A firm in a perfectly competitive market that cannot influence the market price and thus takes the price as given for its decision making.
Economic Costs
Economic Costs include both the explicit costs (direct payments) and implicit costs (opportunity costs) associated with the resources used in the production of goods or services.
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