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If,at a given wage,the quantity of labor supplied exceeds the quantity of labor demanded,________.
Marginal Cost
The increase in total cost that arises from producing one additional unit of a product.
Business License
A legal authorization granted by a governmental body allowing individuals or companies to operate a business within a specific jurisdiction.
Tax
A compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.
Profit
The financial gain achieved when the revenue from a business activity exceeds the expenses, costs, and taxes associated with maintaining the activity.
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