Examlex
How does technology affect customer value?
Marginal Revenue
The boost in revenue experienced by a company when it sells an extra unit of its goods or services.
Purely Competitive Firm
A company that operates in a market where there are many sellers and buyers, the products are homogeneous, and there is free entry and exit from the market.
Vertical Axis
The y-axis in a graph, which typically shows the range of values for the variable measured.
Pure Competition
A market structure featuring a large number of small firms selling identical products, with no single firm able to influence market price.
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