Examlex
A computerized test administration begins with moderately difficult test items.Then,depending on the test-taker's performance,easier or more difficult items are presented.This method of testing is termed
External Cost
A cost of a transaction that affects someone who is not directly involved in the transaction.
Profit Maximizing
A strategy or point at which a firm decides the price and output level that leads to the maximum profit.
MSB Curve
The Marginal Social Benefit curve, showing the extra benefit to society of producing one more unit of a good.
MCA Curve
A graphical representation showing the relationship between the amount of pollution abated and the marginal cost of abatement.
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