Examlex
A phrase is a group of words that includes a subject and a verb and often could stand alone as a sentence.
Marginal Revenue
The increased earnings from the sale of one more unit of a product or service.
Total Revenue
The overall financial gain a business obtains from the sale of goods or delivery of services within a specific timeframe.
Competitive Price-searcher
A market situation where firms have some control over their prices because their products are differentiated, leading them to search for competitive pricing strategies.
Marginal Cost
The cost incurred by producing one additional unit of a product.
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