Examlex
How did China deal with the inflation in 2007?
Marginal Revenue
The extra revenue generated from the sale of an additional unit of a product or service.
Marginal Cost
Marginal cost is the increase in total cost that arises from producing one additional unit of a good or service.
Demand Curve
A graphical representation of the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping.
Competitive Industry
An industry characterized by many firms producing similar goods or services, where no single firm has a dominant market share.
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