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How did white people react to Washington's speech?
Marginal Social Benefit
The additional benefit to society as a whole from producing one more unit of a good or service.
Individual Marginal Benefits
The additional satisfaction or utility that an individual gains from consuming one more unit of a good or service.
Consumer
An individual or group that purchases goods or services for personal use.
Marginal Cost
The cost of producing one additional unit of a good or service, which is used in determining the optimal production level.
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