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California Proposition 187,if enforced would have denied public benefits,such as healthcare and education to undocumented immigrants and their children.
Marginal Revenue
The incremental revenue procured by selling an extra unit of a product or service.
Marginal Cost
The cost of producing one additional unit of a product or service, crucial for pricing and production decisions.
Purely Competitive Firm
A business operating in a market where there are many buyers and sellers of a homogeneous product with no single entity able to influence the market price.
Normal Profits
The minimum level of profit needed for a company to remain competitive in the market, also seen as the opportunity cost of capital.
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