Examlex
Simplify. Assume all variables represent positive real numbers.
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Marginal Cost
The increase in expenditure incurred from making one more unit of a product or service.
Marginal Benefit
The extra benefit or utility received from the consumption or production of an additional unit of a product or service.
Public Goods
Goods or services that are available for consumption by everyone and where use by one individual does not reduce availability to others.
Private Philanthropy
Financial donations made by private individuals or organizations to charitable causes, often aimed at public welfare improvement.
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