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A (non-price discriminating) monopolist with zero marginal cost but recurring fixed costs may end up not producing even if it would be efficient for him to produce.
Risk of Harm
The potential for actions, situations, or products to cause injury, damage, or adverse effects to individuals or groups.
Decision Making
The cognitive process of selecting a course of action among multiple alternatives.
Subjective Probability
An individual's personal estimate of the chance of occurrence of a particular event.
Objective Probability
The likelihood of an event occurring based on a calculation from available data, independent of personal thought or opinion.
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