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Price Control
Government-imposed limits on the prices that can be charged for goods and services in the market to control inflation and stabilize the economy.
Monopolistically Competitive
A market structure where many firms sell products that are similar but not identical, allowing for competition based on quality, price, and branding.
Marginal Cost
The increase or decrease in the total cost incurred by producing one additional unit of a product or service.
Monopolistically Competitive
A market structure characterized by many firms selling products that are similar but not identical, allowing for some degree of market power.
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