Examlex
The fact that human wants cannot be fully satisfied with available resources is called the problem of
Profit-Maximizing
The process or strategy of adjusting production and pricing to achieve the highest possible profit margins for a business or firm.
Firm
A business organization that sells goods or services in order to make a profit.
Marginal Revenue
Extra earnings received from disposing of an additional unit of a good or service.
Market Price
The price of a commodity when sold in a given market, reflecting supply and demand dynamics.
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