Tradable Emissions Permit
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license that can be bought and sold by polluters that enable the holder to
pollute a specified amount
Short-Run maximum profit
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Total Revenue - Total Cost
Government-created barriers
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Government grants you the exclusive right to sell a good
Marginal Revenue
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change in revenue associated with an increase in one unit of production
Average fixed cost
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Fixed Cost / Quantity
Marginal product of an input
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, the additional quantity of output that is produced using one more unit of
that input
An analytical approach through which strategic choices can be assessed is called
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game theory
Implicit cost
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A direct payment with a transfer of money
Constant returns to sale
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when long run average total cost is constant as output increases
The difference between total revenue and total cost is
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license that can be bought and sold by polluters that enable the holder to
pollute a specified amount
Short-Run maximum profit
,Give this one a try later!
Total Revenue - Total Cost
Government-created barriers
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Government grants you the exclusive right to sell a good
Marginal Revenue
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change in revenue associated with an increase in one unit of production
Average fixed cost
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Fixed Cost / Quantity
Marginal product of an input
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, the additional quantity of output that is produced using one more unit of
that input
An analytical approach through which strategic choices can be assessed is called
Give this one a try later!
game theory
Implicit cost
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A direct payment with a transfer of money
Constant returns to sale
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when long run average total cost is constant as output increases
The difference between total revenue and total cost is
Give this one a try later!
