Examlex
Which method should be used to solve the system? Explain your answer, including a description of the first step.
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Marginal Costs
The additional cost incurred from producing one more unit of a good or service.
Aggregate Supply Curve
The aggregate supply curve represents the total output of goods and services that firms in an economy are willing and able to produce at different price levels, holding all else constant.
Output Increases
A rise in the quantity of goods or services produced by an economy or firm over a specific period.
Potential Output
The highest level of GDP a country can achieve when its resources are fully employed, without causing inflation.
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