Examlex
The term "cognitive regulatory capture" has been applied to the economic crisis of 2008.
Perfect Competition
A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information that leads to firms being price takers.
Short-Run Supply Curve
A graphical representation showing the quantity of goods a firm is willing and able to supply at different prices in a given short-term period, holding some factors constant.
Marginal Cost Curve
A graph that displays how the expense of producing one additional unit of a good changes as production volume varies.
Average Variable Cost
The variable cost per unit of output.
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