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Proxy products can sometimes offer psychological information about a customer.
Imperfectly Competitive
Characterizes markets where individual sellers can influence prices and products, unlike in perfectly competitive markets.
Marginal Revenue Product
The additional revenue generated from employing one more unit of a resource.
Imperfectly Competitive
A market structure where not all firms have negligible influence on market prices due to differentiations in products, number of firms, or barriers to entry.
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