Examlex
When European demand for a certain solvent declined,Dow Chemical instructed its German plant to switch to manufacturing a chemical that had been imported from Louisiana and Texas.Dow Chemical would be best described as a(n) :
Market-Equilibrium
A condition where the supply and demand in the market equalize, leading to stable prices.
External Cost
A cost borne by individuals or society that is not reflected in the market price of a good or service, often associated with negative externalities.
Socially Optimal
A condition or point at which the welfare of a society reaches its highest possible level, considering all factors and resources.
Demand Curve
A graphical representation of the relationship between the price of a good and the quantity demanded.
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