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The main reaction to the failure of the Articles of Confederation was to:
MR
Short for Marginal Revenue, the increase in total revenue a firm receives from selling one additional unit of a good or service.
Economic Profits
The difference between the revenue received from the sale of an output and the opportunity cost of the inputs used.
Fixed Costs
Costs that do not change with the level of output produced by a firm, such as rent and salaries.
Variable Costs
Expenses that change in proportion to the production output or sales volume of a company.
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