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Define the concept of fiscal sustainability. How does it differ from the concept of the balanced budget?
Marginal Cost
The increase in costs resulting from the manufacturing of one extra good or service.
Dominant Price Leader
A firm that has the largest market share within an industry and whose pricing decisions are often followed by other firms in the market.
Monopolist
An entity, individual, or company that is the sole supplier of a particular commodity or service in a market, often resulting in the power to control prices and market conditions.
Market Demand
The aggregate amount of a product or service that every customer in a market is prepared and able to buy at different price levels.
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