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Perform the indicated operation. Simplify if possible.
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Marginal Benefit
The additional benefit received from consuming one more unit of a good or service.
Marginal Cost
The cost of producing one additional unit of a good or service, which can vary depending on the level of production.
Rational Decision Maker
A theoretical entity in economics and decision theory that systematically and logically evaluates options before making a choice.
Rational Choice
The theory that individuals make decisions based on the maximization of their benefits and the minimization of their costs.
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