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________is composed mainly of ferromagnesian minerals.
Marginal Cost
The price associated with the creation of one more unit of a product or service.
Average Total Cost
The per-unit cost of production, calculated by dividing the total cost of production by the quantity of output produced.
Economic Profit
The difference between the total revenue generated by a business and the total costs, including both explicit and implicit costs.
Short-run Marginal Cost Curve
A curve that shows the change in total cost associated with producing one more unit of output in the short term.
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