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For a normal curve,changing the mean from 35 to 46 will cause the curve to shift
Monopolistic Competition
A term often used by economists to describe markets characterized by a large number of sellers that supply differentiated products to a market with low barriers to entry. Essentially, it is an alternative term for a competitive price-searcher market.
Marginal Revenue
Extra profit generated from the sale of one more unit of a product or service.
Marginal Cost
The additional cost incurred to produce one additional unit of a good or service.
Average Variable Cost
The variable cost of production (costs that change with output level) divided by the quantity of output produced.
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