Examlex
Someone who practices psychotherapy on the internet is called an e-therapist.
Higher Prices
A situation where the costs of goods or services increase, which could be due to various factors including inflation, increased demand, or higher production costs.
Product Differentiation
The method of differentiating a product or service from its competitors to enhance its appeal to a specific target audience.
Perfect Competition
A theoretical market structure characterized by a large number of buyers and sellers, homogeneous products, and no barriers to entry or exit, leading to firms being price takers.
Profit-maximizing Output
The level of production at which a company can achieve the highest possible profit, determined by the intersection of marginal cost and marginal revenue.
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