Examlex
People who do not like to work with people of a particular ethnicity are prejudiced.
Marginal Cost
The cost of producing an additional unit of output, which is an important factor in economic decision making.
Profit-maximizing Price
The price that results in the maximum possible profit for a firm, based on its cost structure and demand for its products.
Elasticity of Demand
A gauge for understanding how price changes influence the consumer demand for a particular good.
Constant Elasticity
A condition where the elasticity of a function, such as demand or supply, remains unchanged over a range of prices or quantities.
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