Examlex
Incentives need to be clearly separated from base pay to avoid creating the impression that incentives are a(n) ______.
Deadweight Loss
The reduction in total societal welfare resulting from market inefficiencies, typically due to taxes, subsidies, or monopolies.
Market Output
The total quantity of goods or services produced and offered for sale in a particular market.
Barriers To Entry
Obstacles that make it difficult for new competitors to enter a market, such as high startup costs or stringent regulations.
Natural Monopoly
A market condition where a single firm can supply a good or service to an entire market at a lower cost than two or more firms, due to economies of scale.
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