Examlex
All of the costs associated with regulation are borne by the firms being regulated.
Population Mean
The average value of all the elements in a population, representing a central measure of tendency for the distribution of values.
Christmas Trees
In the oil and gas industry, an assembly of valves, spools, and fittings used on a wellhead to control the flow of oil and gas.
Differential Cost
The difference in cost between two alternative decisions, or a change in cost from one period to the next.
Incremental Cost
The additional cost that a company incurs when producing one more unit of a product.
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