Examlex
What is the natural rate of unemployment,and what types of unemployment constitute the natural rate of unemployment?
Cournot Equilibrium Price
A concept in economics where competing firms reach a state of balance in which each firm's output decision is optimal, given the output decisions of other firms, leading to a stable price level in oligopolistic markets.
Constant Unit Cost
Constant unit cost occurs when the cost to produce each additional unit of a product remains the same, regardless of the level of production.
Inverse Demand Function
A function that reflects the relationship between the price of a good and the quantity demanded, solving for price as a function of quantity.
Stackelberg Leader
An economic model of strategic interaction between firms in which one firm (the leader) moves first and the others (followers) adapt, leading to a determined outcome based on the leader's decision.
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