Examlex
An economic variable that moves in the same direction as aggregate economic activity (up in expansions,down in contractions) is called
Price
The monetized value required, forecasted, or offered in return for a service or good.
Marginal Cost
The increase in total cost that arises from an extra unit of production, focusing on the cost variation from an additional output.
Marginal Revenue Curve
A graphical representation that shows how additional sales revenue changes with each extra unit of output sold.
Shift Right
In economics, a rightward shift in the demand or supply curve indicates an increase in demand or supply, respectively, at every price level.
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