Examlex
Consumers may seek products that emphasize objective tangible attributes to satisfy certain utilitarian needs.
Joint Monthly Profit
The combined profit earned by two or more partners or businesses in a single month.
Cartel
An organization of sellers designed to coordinate supply and price decisions so that the joint profits of the members will be maximized. A cartel will seek to create a monopoly in the market for its product.
Monopolist
A single seller in a market who has significant control over the price and supply of a product or service.
AVC
Average Variable Cost; the total variable costs of production divided by the quantity of output produced.
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