Examlex
If the Sun passes almost in front of the center of our Milky Way Galaxy, it does so
MC
Marginal Cost, the increase in total cost that arises from an extra unit of production.
MR
Marginal Revenue, the additional income generated from selling one more unit of a product or service.
Perfectly Elastic
Perfectly elastic refers to a situation where the quantity demanded or supplied responds infinitely to changes in price.
Perfectly Inelastic
A situation in which the quantity demanded or supplied of a good does not change in response to a change in price.
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