Examlex
Liability for failure to train assistant district attorneys can be established for an isolated incident of harm only if the harm is sufficiently serious.
ATC
Average Total Cost, which is the total cost of production divided by the quantity of output produced, including both fixed and variable costs.
Marginal Cost
Marginal Cost is the increase in cost resulting from the production of one additional unit of a good.
Break-even Point
The production level where total revenues equals total expenses, and there is neither profit nor loss.
Perfectly Elastic
Perfectly elastic describes a situation where the quantity demanded or supplied responds infinitely or extremely to changes in price.
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