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| | Key Terms and Concepts |
 | | With complements, the demand for one rises as the price of the other falls (or the demand for one falls as the price of the other rises). |
 | | When the good is produced, the firm utilizes resources (entrepreneurship (or entrepreneurial ability), capital, labor, and land) and pays the costs of production associated with using those resources. |
 | | As the price of a good rises, the quantity demanded of the good also rises, and as the price of a good falls, the quantity demanded of the good also falls, ceteris paribus. |
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