Examlex
If the forecast errors are autocorrelated, this is a good indication that the model has been specified correctly.
Output
The aggregate output of products or services generated by a corporation, sector, or economic system.
Price-Taker Market
A market in which sellers have no ability to influence the price of the goods or services they sell; price is determined by supply and demand.
Marginal Cost
The expense associated with manufacturing an extra unit of a product.
Marginal Revenue
The additional income received from selling one more unit of a good or service.
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