Examlex
If one duopolist chooses the highest price it will maximize its profit.
Real Output
The quantity of goods and services produced in an economy adjusted for inflation, representing the actual productivity.
Price Level
A measure of the average prices of goods and services in an economy at a specific point in time.
Aggregate Demand Curve
A graphical representation showing the relationship between the total quantity of goods and services demanded and the overall price level.
Vertical Axis
In a graph or chart, the y-axis, which is typically used to measure the dependent variable or the value being investigated.
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