Examlex
Iron and aluminum are examples of minerals based on their unique crystal structure.
Average Variable Costs
The total variable costs divided by the quantity of output produced, representing the variable cost per unit of output.
Marginal Revenue
Marginal Revenue is the additional income generated from selling one more unit of a good or service.
Profit-maximizing Level
The point at which a business achieves the highest profit, where marginal cost equals marginal revenue.
Market Demand
The sum of all the quantities of a good or service demanded per period by all the households buying in the market for that good or service.
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