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According to you, how can the problem of being too locally responsive be solved? Justify your answer.
Marginal Cost
The growth in complete costs associated with creating another unit of a good or service.
Total Revenue
The total amount of money received by a company from the sale of its goods or services.
Market Price
The current price at which a good or service can be bought or sold in a marketplace, determined by supply and demand.
Profit
The financial gain realized when the revenue from selling goods or services exceeds the cost of production.
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