Examlex
Which problem-solving technique examines partial solutions, abandons unsuitable ones, and returns to consider other candidate solutions.
Marginal Cost
The increase or decrease in the total cost that arises from producing one additional unit of a product.
Annual Fixed Cost
Expenses that do not change in proportion to the activity of a business, within the period of a year.
Socially Efficient
An economic condition where resources are allocated in a way that maximizes total social welfare.
Marginal Cost
The change in total production cost that arises when the quantity produced is incremented by one unit.
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