Examlex
_____ consists of server and client software, the Hypertext Transfer Protocol (HTTP) , standards, and markup languages that combine to deliver information and services over the Internet.
LRAC Curve
Long-Run Average Cost Curve, showing the lowest average cost at which a firm can produce any given level of output in the long term.
Natural Monopolist
A type of monopoly that occurs when a single firm can supply a product or service to an entire market at a lower cost than two or more firms could.
Market Demand Curve
A graphical representation that shows the relationship between the price of a good and the total quantity demanded by all consumers in the market.
Barrier To Entry
Factors that make it difficult for new firms to enter a market, such as high initial costs or stringent regulations.
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