Examlex
The preliminary steps in the progressive discipline process should not be skipped because this is a violation of procedural justice.
Externality Compensation
Payments or remedies provided to offset the unintended negative or positive effects imposed on third parties by the production or consumption of goods and services.
Efficient Outcome
An allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off.
Marginal Cost
The cost associated with producing one additional unit of output, focusing on how total production costs change with production volume adjustments.
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