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Quantity Supplied
The quantity supplied refers to the amount of a good or service that producers are willing to sell at a given price over a specified period.
Rationing Function
The process by which a scarce resource is distributed among competing users.
Dynamic Pricing
A pricing strategy where prices are adjusted in real-time based on demand, supply, and other market conditions.
Government-Regulated Taxis
Taxi services whose fares, numbers, and operating standards are controlled by governmental bodies.
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