Examlex
Intermediaries are not necessary when people sell things on websites like eBay.
Constant Unit Cost
A situation where the cost to produce one unit of a good remains the same, regardless of the total quantity produced.
Demand Function
A mathematical relationship that expresses the quantity of a good or service demanded at various prices.
Newspaper Prices
The cost at which newspapers are sold to consumers, which can influence demand and circulation numbers.
Joint Operating Agreement
A contractual agreement among co-venturers specifying the terms and conditions under which a joint venture will operate and the responsibilities and share of each participant.
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