Examlex
It is appropriate to use the supply-and-demand model in which of the following markets?
Horizontal Axis
In a graph or chart, the x-axis that runs from left to right, commonly used to represent the independent variable.
Vertical Axis
A line or reference point on a graph or chart that typically represents the dependent variable or outcome in an analysis.
Marginal Utility
The additional satisfaction or benefit (utility) that a consumer derives from consuming one more unit of a good or service.
Optimum
The most favorable condition or highest achievable level of efficiency under the given circumstances.
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