Examlex
No one owns the atmosphere or the oceans,so no one is harmed if these are polluted.
Market Shares
The percentage of an industry's sales that is earned by a particular company over a certain time period.
Monopolistically Competitive
Characterizing a market environment where several sellers offer differentiated products, resulting in non-price competitive strategies.
Price-Taker
An economic agent (e.g., a firm or consumer) that has no control over the market price and must accept prices as given.
Economic Profit
The surplus achieved when total revenue exceeds the opportunity costs of all resources used in production.
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