Examlex
The term "personal loyalty syndrome" is used to describe criminal justice practitioners who offer tremendous loyalty to their superiors and company.
X-inefficiency
The production of output, whatever its level, at a higher average (and total) cost than is necessary for producing that level of output.
Price-Discriminated
A pricing strategy where a seller charges different prices for the same product or service to different buyers, based on factors like demand, market conditions, or buyer characteristics.
Pure Monopolist
A market scenario where a single firm is the sole provider of a product or service, facing no competition.
Economies of Scale
Financial advantages that firms enjoy as a result of the size of their operations, causing the per-unit expenditure to typically reduce as the operation's scale increases.
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