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There are important differences in public sector workers' bargaining rights in Canada and the U.S.
Average Variable Cost
The total variable cost of production divided by the quantity of output, representing the variable cost per unit of output.
Average Total Cost
The total cost of production divided by the number of goods produced; it includes both fixed and variable costs.
Marginal Revenue
The incremental income produced through the sale of one additional unit of a good or service.
Marginal Cost
The extra cost triggered by the production of an additional unit of a product or service.
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