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Describe the formation of ridges and troughs in the upper atmosphere and how they are connected with weather patterns.
Diminishing Marginal Returns
A principle in economics where each additional unit of input results in a smaller increase in output than the previous unit, at a certain point.
Marginal Cost
The additional cost incurred in producing one more unit of a product, emphasizing the concept of optimizing production levels.
Average Total Cost
The total cost per unit of output, calculated by dividing the total cost of production by the total quantity produced.
Average Variable Cost
The variable cost (e.g., labor, materials) per unit of output, calculated by dividing total variable costs by the number of units produced.
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