Examlex
A voluntary export restraint is an agreement negotiated between two countries that places a numerical limit on the quantity of a good that can be imported by one country from the other country.
Marginal Revenue
The profit increment a business achieves through the sale of one extra unit of its offerings.
Macaws
Large, brightly colored parrots with long tails and powerful beaks, native to Central and South America.
Monopoly
A market structure characterized by a single seller dominating the entire market, often resulting in limited consumer choice and higher prices.
Elastic
Describes a situation where the demand or supply for a product or service significantly changes in response to price changes.
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