Examlex
For the purposes of determining the fair value of an asset in an active market,an active market is defined in AASB 138 Intangibles,as one that has all of the following conditions:
I II III IV
The items traded in the market are homogeneous Yes Yes No Yes
Willing buyers and sellers can normally be found No Yes No Yes
Prices are available to the public Yes No Yes Yes
Profit-maximizing Output
The level of production at which a company achieves the highest possible profit.
Marginal Cost
The rise in overall expenses resulting from the production of an additional unit.
Marginal Revenue
The additional income from selling one more unit of a good; it is the change in total revenue from an additional unit sold.
Competitive Price-searcher
A market participant that actively seeks out and compares prices in order to find and exploit competitive price advantages.
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