Examlex
Structural unemployment is a bigger problem in Europe than in the United States because of:
Monopolist
A market participant that is the sole provider of a product or service, possessing significant market power to set prices.
Economic Profits
The gap between the total income a business generates and all of its expenditures, taking into account both direct and hidden costs.
Average Total Cost
The total cost of production divided by the number of units produced, providing a per-unit cost of production.
Oligopolistic Industry
A market structure characterized by a small number of firms that have the power to influence the price of their products or services.
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