Definitions:
Market Price
The current price at which an asset or service can be bought or sold in the market.
Sellers
Individuals or entities that offer goods or services for sale in the market.
Aluminum Ore Reserves
Refers to the total amount of aluminum ore available for mining in a specific area or globally, which is crucial for industrial production.
Price-Taking Assumption
The assumption that individual firms or consumers do not have the power to influence market prices due to their small size relative to the market.
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