Examlex
Under OSHA guidelines, needle holders for Vacutainers can be reused for multiple patients, because they are not contaminated during the blood draw.
Socially Efficient
A condition where resources are allocated in a way that benefits society as a whole and maximizes overall welfare.
Marginal Cost
Marginal cost is the change in total cost that arises when the quantity produced is increased by one unit; it is the cost of producing one additional unit of a product.
Quantity Of Output
The total amount of goods or services produced by a firm or economy within a specific period.
Deadweight Loss
A loss of economic efficiency that can occur when the free market equilibrium is not achieved due to market failures or interventions.
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