Examlex
Which term is spelled wrong?
Average Revenue
The amount of income generated per unit of sale or the total income divided by the number of units sold.
Purely Competitive Seller
A seller in a market that has many buyers and sellers, with all firms selling identical products and no barriers to entry.
Marginal Revenue
The boost in revenue experienced by a company when it sells an extra unit of its goods or services.
Purely Competitive Firm
A company that operates in a market where there are many sellers and buyers, the products are homogeneous, and there is free entry and exit from the market.
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