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Chapter 14

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  1. competitive market
    a market with many buyers and sellers trading identical products so that each buyer and seller is a price taker
  2. average revenue
    total revenue divided by the quantity sold
  3. marginal revenue
    the change in total revenue from an additional unit sold
Author
Ruth5151
ID
19822
Card Set
Chapter 14
Description
A.P. Economics textbook, Chapter 14 vocabulary
Updated
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