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Marginal Benefit
The extra utility or satisfaction that is derived from the consumption or manufacture of one more unit of a good or service.
Marginal Cost
The growth in complete cost caused by the manufacture of one more unit of a good or service.
Artificially Scarce Good
A product or service whose availability is limited due to artificial constraints, such as legal restrictions or monopolistic practices, rather than natural scarcities.
Competitive Market
A market structure where many firms offer products or services that are similar, allowing consumers to find substitutes easily.
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