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Recalling the issue in Japan Line,Ltd.v.County of Los Angeles,write an international agreement on the taxation of cargo containers.
Marginal Revenue
The rise in income generated by selling an additional unit of a product or service.
Average Total Cost
The cost per unit of output, calculated by dividing the total production cost by the total quantity produced.
AVC Curve
A graph representing the average variable cost of producing different quantities of output, typically U-shaped due to economies and diseconomies of scale.
Short-run Shut-down Price
The price level at which a firm's total revenue is equal to its variable costs, below which it should cease operations.
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