Examlex
An oxygen saturation probe is a noninvasive monitoring device.
Public Good
A product or service that is made available to all members of a society by the government or a private entity, characterized by non-excludability and non-rivalry in consumption.
Marginal Cost
The increment in production cost when an extra unit of a product or service is produced.
Optimal Number
The best or most favorable amount of something in terms of efficiency or success.
Free-rider Problem
A situation in which individuals consume a good without paying for it, relying on others to bear the cost, which can lead to underprovision of the good.
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