Examlex
What standard does a court use in reviewing the factual determinations of an administrative agency?
Differentiated Product
is a good or service that is distinguished from similar products by unique characteristics, branding, or quality, allowing it to compete on factors other than price.
Inelastic Demand
A situation where the demand for a product does not change significantly with a change in price.
Marginal Revenue
The rise in income achieved by selling an extra unit of a product or service.
Price Searcher
A seller that determines the selling price of its product or service based on market conditions, demand, and competition, instead of adhering to a market dictated price.
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