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Paralegal Ava is writing a brief in defense of a lawyer facing disciplinary charges. Ava has a choice between citing her state's professional conduct rule 3.7 (on the lawyer acting as a witness in his own trial) or ABA Model Rule 3.7. Both rules say exactly the same thing but the ABA Rule has explanatory Comments, and her state law does not. Her best choice is to
Marginal Cost
The supplementary cost involved in creating one more unit of a product or service.
Monopoly
A monopoly is a market structure characterized by a single seller controlling a large portion of the market, lacking significant competition, and often able to influence prices.
Natural Monopoly
A market structure where a single firm can produce the entire market's supply at a lower cost than could multiple firms due to economies of scale.
Economies of Scale
Economies of scale refer to the cost advantage experienced by a firm when it increases its level of output. The advantage arises due to the inverse relationship between per-unit fixed cost and the quantity produced.
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