Examlex
PID is the abbreviation for:
Perfect Competitor
A firm in a perfectly competitive market, having no control over market price and where goods offered are perfect substitutes.
Differentiated Product
A product that has been designed or marketed to stand out from similar products offered by competitors.
Elastic
Refers to the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.
Demand Curve
A graphical representation showing the relationship between the price of a good and the quantity of that good consumers are willing to buy at various prices.
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