Examlex
Given a downward-sloping aggregate demand curve,if short-run aggregate supply increases,real GDP must increase and nominal GDP must fall.
Excess Profit
Profit earned by a firm that exceeds the normal profit level, often due to monopolistic power or market inefficiencies.
Marginal Revenue
The additional income generated from selling one more unit of a good or service.
Monopolistic Competitor
A firm in a market structure where many companies sell products that are similar, but not identical, allowing for competition on factors other than price.
Marginal Revenue
The additional income received from selling one more unit of a good or service.
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