Examlex
Average annual salary increase = _____.
Public Utility
A company providing essential services such as water, electricity, and telecommunications to the public, often regulated by the government.
Unnatural Monopoly
A market structure where a single company dominates due to artificial barriers, such as regulations or patents, rather than market forces.
Perfectly Elastic
A situation in economic theory where a small change in price leads to an infinite change in quantity demanded or supplied.
Marginal Revenue
The additional income that is gained from selling one more unit of a product or service.
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