Examlex
What has been attributed to the deadly viral epidemic among dolphins in the western Mediterranean?
Consumer Surplus
The divergence in total intended consumer expenditure on a product or service and the total actual expenditure.
Market Power
The ability of a company or entity to influence or control the terms and conditions of the market to some degree, affecting prices and competition.
Externalities
Financial consequences for unrelated third parties, which can manifest as either positive or negative effects.
Perfectly Competitive
Describes a market structure where many firms sell identical products, there are no barriers to entry, and no single buyer or seller can influence the market price.
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