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Explain the importance of agriculture, manufacturing, and trade to the Chinese economy. What were some of the high-demand production goods associated with China?
Marginal Revenue
The additional revenue that is gained from selling one more unit of a good or service.
Marginal Revenue
The additional income earned from the sale of one more unit of a product or service.
Cheese
A dairy product derived from milk that is produced in a wide range of flavors, textures, and forms by coagulating the milk protein casein.
Monopolist
An entity with exclusive control over the supply of a particular good or service, giving it the power to control prices and exclude competition.
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