Examlex
If the defense is claiming that the eyewitness incorrectly identified the defendant as the perpetrator of the crime, the prosecution can introduce evidence that the defendant previously committed a similar crime even though he/she was not convicted.
Competitive Market
A market structure characterized by a large number of buyers and sellers, where no single entity controls the market price.
Marginal Cost
Marginal cost is the change in total cost that arises when the quantity produced changes by one unit. It's pivotal in decision-making processes regarding increasing or decreasing production.
Marginal Revenue
The extra financial gain from selling an additional unit of a product or service.
Profit
The profit earned when the revenue generated from a business operation surpasses all its associated expenses, costs, and taxes required for the operation.
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