Examlex
A company that formerly produced software went out of business because too many potential customers bought illegally-produced copies of the software instead of buying the product directly from the company.This instance serves as an example of
Marginal Revenue
The additional revenue gained from selling one more unit of a product or service.
Downward-Sloping Demand
Describes a market phenomenon where a product's demand decreases as its price increases, according to the law of demand.
Price
The expenditure involved in buying a good or service.
Demand Curve
A chart that depicts the link between a product's price and the amount of the product that buyers are prepared and capable of buying at various price points.
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