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Virtually all application processing may be done at the client, with the exception of data validation routines and other database logic functions that are best performed at the server.
Monopolist's Demand Curve
A graphical representation showing how the quantity demanded by the market varies with price, uniquely for monopolies where the firm's demand curve is also the market demand curve.
Elastic
A description of a situation in which the supply or demand for a product is highly responsive to changes in price, indicating sensitivity in the quantity supplied or demanded.
Monopolistically Competitive
Refers to a market structure where many firms sell products that are similar but not identical, allowing for some degree of market power.
Purely Competitive
A market scenario where the selling price of products is determined by the overall supply and demand, with numerous sellers and homogeneous products.
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