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Imagine that you are creating an outline assembly drawing. What should you do?
Marginal Revenue
The augmented income obtained by selling one more unit of a good or service.
Marginal Cost
The increase in total cost that arises from producing one additional unit of output.
Competitive Market
A market structure characterized by a large number of buyers and sellers, such that no single participant can significantly influence price.
Marginal Cost
The increase in cost that arises from producing an additional unit of output.
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