Examlex
The consumption function shifts upward when
Units
Basic quantities or measurements used to express a variable or quantity in a specific context, such as units of currency or units of measurement.
Monopolistic Competition
A market structure in which many firms sell products or services that are similar but not identical, allowing for some degree of market power and product differentiation.
Non-price Competition
A strategy where businesses compete on factors not related to price, such as product quality, service, or brand reputation.
Horizontal Demand Curve
A horizontal demand curve represents a situation in economics where the demand for a product is perfectly elastic, meaning consumers would buy an infinite quantity at a certain price but none if the price increases.
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