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Increase in Demand
A shift of the demand curve to the right, indicating that consumers are willing and able to purchase more of a good or service at every price.
Supply Curve
A pictorial display indicating how the price of an item affects the quantity of the item sellers are eager to sell.
Cost of Production
The total expenses incurred in the manufacture of a product, including raw materials, labor, and overhead costs.
Quantity Demanded
Quantity demanded refers to the total amount of a good or service consumers are willing to purchase at a specific price point, at a given time.
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