Examlex
In a free market there are significant restrictions on how a good or service can be produced or sold.
Profitable One
An entity or venture that generates income exceeding its costs and expenses, thereby yielding a surplus or profit.
MC > MR
A condition where the marginal cost of producing an additional unit is greater than the marginal revenue gained from selling it, indicating it’s not profitable to increase production.
Profit Maximized
The point at which a firm achieves the highest possible profit, typically by adjusting output levels or prices.
Total Revenue
The total amount of money that is brought in by sales of goods or services.
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