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In Canada, voters typically choose between three or more candidates in an election, which can lead to situations where
Marginal Revenue
The heightened income realized from the sale of one more unit of a good or service.
Marginal Cost
The price involved in creating one more unit of a specific good or service.
Marginal Revenue
The additional income gained from selling one more unit of a good or service; it’s a critical concept for determining the optimal level of output for a firm.
Profit-maximizing Firm
A business entity whose primary goal is to generate the highest possible profit from its operations and investments.
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