Examlex
A federal surplus is deflationary when all else is held constant.
Average Variable Cost
Average variable cost is the total variable costs divided by the quantity of output produced, showing the variable cost per unit of output.
Supply Curve
A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to sell.
Marginal Cost Curve
A graphical representation showing how the cost of producing one more unit varies with the quantity produced.
Pure Monopolist
An entity that is the sole provider of a particular product or service in the market, facing no direct competition.
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