Examlex
How was the Ebola outbreak in 2018 better controlled than the outbreak in 2014?
Break-even
The point at which total cost and total revenue are equal, meaning there is no net loss or gain.
Profit-maximizing
A strategy or condition where a firm adjusts its production to achieve the highest possible profit based on its costs and the market price.
Shut-down Point
The price and quantity point at which a business ceases operations because continuing would result in losses.
Economically Efficient
A situation where resources are allocated in a way that maximizes the net benefit to society or minimizes the cost of achieving a set output level.
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