Examlex
Disembodied technological change pertains to technological development not associated with new capital equipment.
Service Industries
Sectors of the economy that provide intangible products such as healthcare, education, and financial services.
Monopolistically Competitive
Describes a market structure where many companies sell products that are similar but not identical, allowing for competition based on price, quality, and marketing.
Profit-maximizing Price
The price level at which a company can make the maximum possible profit on its products or services, based on the dynamics of supply and demand.
Demand
The desire, willingness, and ability of consumers to purchase goods and services at a given price.
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