Examlex
Match the terms with their correct combining forms.
-Nose
Total Cost
Represents the complete cost of production, including both fixed and variable costs, for producing a certain amount of goods or services.
Elastic
Describes a situation in which the supply or demand for a good or service is highly responsive to changes in price.
Excess Capacity
A situation where a firm is producing at a level less than its maximum possible output, leading to unused resources.
Equilibrium Level
The equilibrium level is a state where supply and demand balance each other, and market forces such as price remain stable.
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