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Market Price
The price at which goods or services are currently sold on the open market.
Profits
The financial gain calculated as the difference between the revenue earned from sales and the expenses, taxes, and costs incurred in producing those sales.
Short-Run Supply Curve
A graphical representation showing the relationship between the market price of a product and the amount of it that producers are willing to supply in the short term.
Marginal Cost Curve
A graph showing how the cost of producing one more unit of a good varies as the quantity of production increases.
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