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When a Firm Attempting to Create Unique Products or Services

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When a firm attempting to create unique products or services for particular market niches,in order to achieve relatively high profit margins,this is best known as


Definitions:

U.S. Bureau of Labor Statistics

A government agency that collects, processes, and disseminates a wide range of economic data, including employment, inflation, and productivity statistics.

Nurse Practitioners

Advanced practice registered nurses who have additional education and training in a specialty area, such as family practice or pediatrics.

Product Demand

The desire for a specific good or service supported by the capacity and willingness to purchase it at a given price.

Labor Demand

Labor demand refers to the quantity of labor that employers are willing and able to hire at a given wage rate in a given market.

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