Examlex
Descriptive discriminant analysis refers to the process of classifying participants into groups based on a combination of measures.
Short-Run Supply Curve
A curve showing the relationship between the price of a good and the quantity supplied over a short period, where some production inputs are fixed.
Marginal Cost
The cost to produce one additional unit of a good or service.
Average Variable
The variable cost per unit of output, calculated by dividing total variable costs by the quantity of output produced.
Economic Loss
The decrease in financial value or wealth, often resulting from business operations, market movements, or external economic events.