Examlex
When two variables have been observed to have a tendency to occur at the same time, we can say there is ______ but not necessarily ______.
Average Total Cost
The total cost of production divided by the number of goods produced, indicating the cost on average of producing each unit of output.
Marginal Revenue
The plus income from the sale of one more unit of a good or service.
Competitive Market
A market structure characterized by a large number of buyers and sellers, where no single entity can dictate prices or terms, leading to an efficient allocation of resources.
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, leading to a stable market condition.
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