Examlex
Which term refers to a legally established maximum price that firms may charge?
Price Strategies
Techniques used by companies to price their products or services with a view to maximizing profits or market share.
Marginal Revenue Function
The rate at which total revenue changes with respect to the output quantity change.
Marginal Costs
The added cost that comes from producing an additional unit of a product or service.
Kinked Demand Model
An economic model that suggests prices remain stable because firms in oligopoly markets may not adjust their prices in response to small shifts in demand or cost.
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