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Which has the greater concentration of hydrogen ions, a substance with a pH of 5 or a substance with a pH of 4?
MC
An abbreviation commonly used for marginal cost, which is the cost added by producing one additional unit of a product or service.
Average Variable Cost
The variable cost per unit of output; the total variable cost divided by the number of units produced.
Economic Profit
The gap between the complete income and all expenses, covering overt and hidden costs.
Minimum Wage
A price floor set for the price of labor.
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