Examlex
Examples are not definitions, but they can serve a defining function by clarifying a term or phrase.
Price Elasticity
The degree to which the demand for a product is sensitive to price changes, indicating how the quantity demanded fluctuates with price variation.
Cournot Duopolists
Firms in a duopoly market structure where each firm chooses its quantity to produce based on the quantity chosen by its competitor, following the Cournot assumption.
Marginal Cost
The charge for producing another unit of a good or service.
Demand Curve
An illustrative chart that depicts how the demand for a product varies with changes in its price.
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