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Define Q crit.
Average Total Cost
The total cost of production divided by the number of units produced, essentially representing the per-unit production cost.
Marginal Cost
The financial outlay involved in the manufacture of one more unit of a product or service.
Monopoly Power
The capacity of a firm to control market prices and exclude competition, often by being the sole provider of a product or service.
Barriers to Entry
Barriers that make it difficult for new entrants to join a market or business sector.
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