Examlex
The fossil record now contains important transitional forms between apes and humans that conform to expectations about what the earliest hominids would have looked like.
Marginal Cost
The additional cost incurred from producing one more unit of a good or service.
Competitive Market
A market structure characterized by many buyers and sellers, where no single entity has the power to influence market prices.
Profit
Profit is the financial benefit realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in maintaining the activity.
Short-Run Equilibrium
A situation in a market where demand equals supply, resulting in a stable price level, but which may not reflect long-term market dynamics.
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