OPERATING LEASE Definition

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OPERATING LEASE is a short-term, cancelable lease.

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BLACK MARKETS are created when buyers and sellers meet to negotiate the exchange of a prohibited or illegal good. More generally, it is any unofficial market in which prices are inordinately high.

MARGINAL BENEFIT takes into account the fact that the more an entity has or devotes to something, the less benefit that is likely to be derived from the additional units applied, e.g. additional labor hours expended to complete a task can be of questionable benefit if parts, tools, or machines cannot optimally absorb the additional labor applied, i.e. the additional hours devoted would be of marginal benefit.

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