Examlex
____ refers to cells not wide enough to display the entire entry.
Marginal Cost
The cost incurred by producing one additional unit of a product.
Concave
A shape or curve that is curved inward, resembling the interior of a circle or sphere.
Production Possibilities Frontier
A curve depicting all maximum output possibilities for two goods, given a set of inputs and technology constraints.
Marginal Rate Of Transformation
The rate at which one good must be sacrificed in order to produce an additional unit of another good, assuming efficient use of resources.
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