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Output
The total quantity of goods or services produced or supplied by a firm or economy within a certain period.
Product Price
The amount of money required to purchase a specific good or service offered in the market.
Units of Output
Measures the quantity of production or goods produced by a firm or industry during a given time period.
Purely Competitive Market
A market structure characterized by many sellers and buyers, homogeneous products, and easy entry and exit, leading to a situation where no single participant has market control.
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