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How does lithium work to curb the mood swings associated with bipolar disorder?
Profit Per Unit
The revenue obtained per unit of a product or service sold, minus the cost per unit.
Optimal Output
The level of production that generates the highest possible profit for a firm, taking into account costs and revenue.
Price to Clear
The market price at which the quantity supplied of a good matches the quantity demanded, leading to an equilibrium where there is no surplus or shortage.
Variable Costs
Costs that vary directly with the level of production or output, such as materials and labor.
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