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Why did Europe ignore the growing threat of fascism and communism?
Competitive Firms
Enterprises that operate in a market where they have to compete against other firms for the same customers or resources.
Average Revenue
The revenue a firm receives per unit of output sold, calculated by dividing total revenue by the quantity of output.
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded, holding other factors constant.
Total Revenue
The total receipts or income a firm receives from the sale of its products or services, calculated as the unit price times the quantity sold.
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