Examlex
If the supply of bottled water decreases and at the same time the demand for bottled water increases, the equilibrium price ________ and the equilibrium quantity ________.
Total Revenue
The full amount of financial receipts a corporation garners from transactions or services provided in a specific time frame.
Marginal Revenue
The additional income that is gained from selling one more unit of a good or service.
Non-discriminating Monopolist
A monopolist that charges all consumers the same price for its product.
Marginal Revenue
The added income resulted from the transaction of an additional unit of a product or service.
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