Examlex
The first letter of each word in a heading should always be capitalized.
Competitive Level
A state in a market where firms are able to enter and exit freely, and prices are determined by supply and demand.
Industry
A classification of businesses that perform similar types of work or produce similar goods and services.
Output
The total amount of goods or services produced by a company or economy.
Marginal Social Cost
Sum of the marginal cost of production and the marginal external cost.
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