Examlex
When should an investor use the arithmetic mean return? The geometric mean return?
Marginal Social Cost
The total cost to society of producing one additional unit of a good or service.
Public Good
A product or service that is available for all to consume, regardless of who pays and who doesn't, characterized by non-excludability and non-rivalry.
Free-ride
The act of benefiting from resources, goods, or services without paying for the cost of the benefit.
Rival
In economics, a good or service is considered rival if its consumption by one individual prevents simultaneous consumption by other individuals.
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