Examlex
Solve the problem.
-After being struck with a hammer, a gong vibrates 54 vibrations in the first second and in each second thereafter makes as many vibrations as in the previous second. Find how many vibrations the gong makes before it
Stops vibrating.
Opportunity Cost
Opportunity cost represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.
Marginal Product
Describes the additional output that is produced by using one more unit of a factor of production, holding all other factors constant.
Marginal Cost
The supplementary cost that arises when one additional unit of a product or service is produced.
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