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Need help defining these 10 terms – please give GOOD definitions and do not copy-paste from a website. Add a short example as well.
1. Parameter
2. Elasticity
3. Marginal Utility
4. Net profit margin
5. Diminishing Returns
6. Private Good
7. Economies of Scale
8. Public Good
9. Externality
10. Cartel
Lastly, I have provided a PDF with 3 questions. Please answer the three questions and all parts to it. Thanks!
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