Examlex
The exit of existing firms from a competitive market will
Marginal Benefit
The enhancement in satisfaction or benefit achieved by using or producing another unit of a product or service.
External Costs
Costs of an economic activity that are not borne by the participants in the activity but are imposed on others, such as pollution.
Competitive Free Market
A market structure where many firms offer products or services that are similar, allowing for free entry and exit, with prices determined by supply and demand forces.
Marginal External Cost
The cost imposed on a third party not involved in a transaction or activity due to an additional unit of production.
Q4: Which of the following would most likely
Q17: Which of the following is a difference
Q81: If economic profits were present in a
Q99: Which of the following is true for
Q118: The marginal cost of a good is<br>A)lower
Q123: When economists talk about a barrier to
Q143: As a firm expands output,in the short
Q178: Making drugs,such as cocaine,illegal results in a
Q188: When a firm is operating in a
Q194: Which of the following is true for