Examlex
Which of the following is true of unused capacity?
Short Run
A period in economics during which at least one factor of production is considered fixed, typically focusing on the immediate effects of economic decisions.
Monopolistic
Pertaining to a market structure where there is only one producer or seller for a product or service, limiting competition.
Marginal Revenue
The extra income a company earns by selling an additional unit of a product or service.
Marginal Cost
The increase in cost that arises from producing one additional unit of a good or service; it varies depending on the level of production.
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