Figure 21-11 
-Refer to Figure 21-11. What is the consumer's marginal rate of substitution as she moves from B to C?
Definitions:
Average Total Cost
The total cost of production divided by the number of goods produced, representing the cost per unit of output.
Product Variety
The range of different products or services offered by a company or available in a market, catering to diverse customer tastes and needs.
Allocative Efficiency
A state of the economy in which production represents consumer preferences; in particular, every good or service is produced up to the point where the last unit provides a marginal benefit to society equal to the marginal cost of producing it.
Monopolistically Competitive
A competitive framework where numerous companies offer goods that are alike but not the same, leading to competition revolving around quality, price, and brand recognition.
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