Telegram group: T.me/BBCNOUN [AEM751] …………………… exists when the same product is sold at different prices to different buyers. price discrimination [AEM751] The increase in total revenue obtained by selling additional unit of output is marginal revenue [AEM751] ……………. Me and those characteristics of market that influence the behaviour and performance of firms that sell in the market? market structure [AEM751] ……….. Economics make statements or sale of prepositions about what ought to be value judgement about the world. Normative [AEM751] The quantity of commodity offered for sale at various price at a particular time and place is called supply [AEM751] An area where buyers and sellers negotiate the exchange well defined commodity is known as? market [AEM751] A technical relationship between inputs and outputs is called production function [AEM751] …….. Is used to embrace all raw natural resources that aids in production. Land [AEM751] Monopolists demand curve is down ward slopping because------- the monopolists supplies entire market for the product [AEM751] For a down ward sloping, ---------demand curve is always less than price because prices must have been lowered by the increase in sales. marginal revenue