Examlex
An alpha particle is a helium atom.
Economic Profit
The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, as opposed to accounting profit which only subtracts explicit costs.
Purely Competitive
A market structure characterized by a large number of sellers and buyers, homogeneous products, and no barriers to entry or exit.
Short-run Supply Curve
Represents the relationship between price and quantity supplied over a short period, assuming some inputs are fixed.
Marginal Cost Curve
A graphical representation showing how the cost to produce one additional unit of output changes as production increases.
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