Examlex
A situation in which free, unregulated markets do not maximize economic efficiency is called:
Economic Profit
A financial gain that exceeds both the explicit and implicit costs associated with business operations.
Natural Monopolist
A firm that can supply the entire market at a lower cost than any combination of two or more smaller firms, often due to economies of scale.
Maximum Price
A price ceiling set by authorities to prevent prices from going above a certain level, often to make goods affordable.
Pure Monopolist
A market structure wherein a single company exclusively controls the entire market for a particular good or service, facing no competition.
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