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Power is used to force, not influence, people to take a particular action.
Marginal Revenue
The rise in income generated by the sale of an extra product or service unit.
Total Revenue
The sum of all revenue a business earns from its operational activities, like goods sales or service provision, prior to expense deduction.
Demand Curve
A graphical representation of the relationship between the price of a good and the quantity demanded for a given period.
Marginal Revenue Curve
A graphical representation showing how marginal revenue varies as output level changes, typically downward sloping for firms in competitive markets.
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