Examlex
Each differing and distinct mineral and organic strata within a soil column is called a horizon.
Marginal Revenue
The additional income that is generated by increasing product sales by one unit.
Marginal Cost
The cost incurred by producing one more unit of a good or service.
Socially Optimal Price
A price level for goods or services that considers the wellbeing of society as a whole, often factoring in externalities.
Deadweight Loss
The diminishing of economic efficiency when equilibrium in the free market for a product or service is not attained.
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