Examlex
When certain consumer products are in high demand,producers might buy extra materials and equipment and when demand subsides,producers will cut back on their material purchases.This describes ____ demand.
Monopoly
A market structure characterized by a single seller, selling a unique product in the market with no close substitutes.
Marginal Revenue
The boost in income derived from the sale of an extra unit of a product or service.
Marginal Cost
The additional cost incurred in the production of one extra unit of a good or service.
Marginal Profit
The additional profit gained from producing or selling one more unit of a good or service.
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