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What is the informal organization and how does it relate to the formal structure?
Excess Capacity
A situation where a firm is operating below its maximum output capacity, indicating resources are not being used efficiently.
Monopolistic Competition
A market structure characterized by many sellers offering differentiated products, with some degree of market power.
Vacancy Rate
The percentage of all available units in a housing development or commercial property that are unoccupied or not rented at a given time.
Marginal Cost
Represents the cost incurred by producing one additional unit of a product or service.
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