Examlex
The box pointed to by item 2 in the figure above is called a ____.
Marginal Revenue
The extra income a business earns by selling an additional unit of a product or service.
Profit-maximizing Firm
A business entity that aims to achieve the highest possible profit through its operations and decision-making, focusing on optimizing revenue and minimizing costs.
Marginal Revenue
The gain in income associated with the sale of one extra unit of a good or service.
Price Searcher
A seller that has the ability to influence the price of its product due to lack of competition or the nature of the product.
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