Examlex
A situation in which some resources are NOT fully utilized is represented in a production possibilities frontier diagram by
Marginal Benefits
The incremental satisfaction or benefit a consumer derives from consuming an additional unit of a good or service.
Net Benefits
The total benefits of a decision or project after subtracting all the costs associated with it.
Total Cost
The complete cost of producing a good or service, combining both fixed and variable expenses.
Total Benefit
The sum of all the positive effects or satisfaction received by consuming a product or service.
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