Examlex
Foods that are high in fat should be avoided for at least four hour prior to exercise.
Average Total Cost
The total cost divided by the quantity produced, denoting the cost per unit of production.
Natural Monopoly
A market structure where a single supplier is most efficient in producing the goods due to high fixed or startup costs, making it unfeasible for new entrants to compete.
Producer Surplus
The variance between the intended selling price by producers and the real price they end up receiving.
Consumers
Individuals or entities that purchase goods and services for personal use.
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