Examlex
Diseconomies of scale are the unit cost increases associated with a large scale of output.
Market Equilibrium
A state where market supply equals market demand, leading to stable prices and quantities.
Price Ceiling
A cap on prices set by the government, limiting the maximum amount that can be charged for goods or services.
Shortage
A market condition where the demand for a product or service exceeds its supply at a particular price.
Excess Demand
A market condition where the quantity demanded of a product exceeds the quantity supplied at a given price.
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