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During continuous conduction,
MR
Marginal Revenue, the additional income received from selling one more unit of a product or service.
Socially Efficient Quantity
The level of production or consumption of a good or service that results in the optimal allocation of resources, considering both private and social costs and benefits.
Profit-Maximizing Quantity
The level of production at which a company achieves its highest profit, where marginal cost equals marginal revenue.
Average Total Cost
The total cost divided by the quantity of output produced; it is the sum of average fixed costs and average variable costs.
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