Item 7 in the figure above is the ____.
Definitions:
Marginal Cost
Expenditure incurred in producing an additional unit of a good or service.
Marginal Revenue Curve
A graphical representation showing the change in total revenue for each additional unit of a good or service sold.
Marginal Cost
The heightened cost from fabricating an extra 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.
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