Examlex
When a customer makes a recommendation for (or against) a specific brand to another customer,it is called ________.
Competitors
Companies or entities that are in the same industry and compete against each other for market share by offering similar products or services.
Demand Curve
A graphical representation of the relationship between the price of a good or service and the quantity demanded by consumers, typically downward sloping.
Long-Run Equilibrium
A state in economics where all factors of production are variable, leading to a situation where all firms in a competitive market make zero economic profit.
Marginal Revenue
The additional income received from selling one more unit of a product or service.
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