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The ultimate model obtained by a logistic regression analysis is a linear function.
Demand Curve
A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers.
Perfect Competitor
A theoretical market structure where many firms sell identical products, entry and exit are easy, and all firms are price takers.
Industry Demand Curve
A graphical representation of the quantity of goods that buyers in an industry are willing and able to purchase at various prices, holding other factors constant.
Individual Firm's Demand Curve
A graphical representation showing the quantity of a good that a single firm is willing and able to sell at different prices.