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Income Distribution
Refers to the way total personal income is distributed among individuals or households in an economy, affecting economic inequality.
Reservation Price Model
A model that defines the maximum price a consumer is willing to pay for a good or service.
Aggregate Demand
The aggregate need for all products and services in an economy, measured at a specific price level and during a particular time frame.
Marginal Revenue
The additional income generated from selling one more unit of a product or service.
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