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The marginal abatement costs (MAC) for Stark and York Paper are MACs = 0.2es and MACY = 0.25eY, where es and eY represent the amount of emissions cut by each company. The lowest cost approach to reducing 90 units of emission is for Stark to reduce its emissions by _____ units and York to reduce its emissions by _____ units.
Lemonade Stand
A small business venture, often used as an example for basic business principles, where lemonade is sold, typically by younger entrepreneurs.
Fixed Cost
Expenses that do not vary with the level of output or sales, such as rent, salaries, or insurance premiums.
Variable Cost
Expenses that vary in proportion to the volume of goods or services produced in a business.
Opportunity Cost
The forfeiture of potential benefits from other options by selecting a specific one.
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