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Briefly explain why, until 2008, Americans amassed record amounts of debt and why the free-spending trend has ended.
Marginal Cost
The production cost for one more unit of a product.
Production
The process of creating goods and services through the combination of labor, capital, and natural resources.
Pizza
A popular dish originating from Italy, consisting of a round, flattened base of leavened wheat-based dough topped with tomatoes, cheese, and various other ingredients.
Optimal Level
The most favorable point at which the benefits of an action exceed its costs the most, often related to production or consumption.
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