Examlex
The decrease of carbon-12 in a fossil indicates the age of that fossil.
Perfectly Competitive Firm
A business that operates in a perfectly competitive market, where it is a price taker due to the presence of many sellers offering homogeneous products.
Marginal Cost
The cost incurred by producing one more unit of a good or service.
Marginal Revenue
The increase in revenue that results from the sale of one additional unit of a product or service.
Average Total Cost
The total cost of production divided by the total quantity produced, representing the average cost per unit of output.
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