Examlex
All of the following are true about unemployment except that:
Marginal Cost Curve
A graphical representation showing how the cost to produce one additional unit changes as more units are produced.
Profits
The financial gain realized when the revenue earned from business activities exceeds the expenses, costs, and taxes needed to sustain those activities.
Output
The quantity of goods or services produced by a business, industry, or economy within a specific period.
Shutting Down
A short-run decision by a firm to cease production temporarily due to unfavorable market conditions.
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