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Match the Appropriate Definition with Each Term

question 11

Multiple Choice

Match the appropriate definition with each term:
-Fear or contempt for something foreign, which may or may not be related to race or ethnicity


Definitions:

Average Cost

The total cost of production divided by the number of goods produced, representing the cost per unit of output.

Marginal Revenue

The additional income that is gained from selling one more unit of a product or service.

Consumer Surplus

The discrepancy between the total sum consumers are prepared and capable of paying for a good or service, and the total sum they end up paying.

Profit Maximize

The method through which a company identifies the optimal pricing and production volume to maximize its profits.

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