Examlex
Contracting with another organization to perform a broad set of services is called outsourcing.
Marginal Cost
The monetary cost of fabricating one more unit of a product or service.
Marginal Revenue Curve
A graphical representation showing how marginal revenue varies with changes in quantity sold.
Kinked
Often relating to the kinked-demand curve seen in oligopolistic markets, where firms face a price elasticity that abruptly changes as prices increase or decrease.
Oligopolist
A seller in an oligopoly market, a market structure characterized by a small number of firms dominating the market.
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