Examlex
Regarding minority teens,which of the following statements is FALSE?
Marginal Revenue
The additional income from selling one more unit of a good or service.
Marginal Cost
The hike in overall costs when one extra unit of a product or service is produced.
Economic Profits
The difference between total revenue and total costs, including both explicit and implicit costs, representing surplus remaining after all costs have been paid.
Entry Barriers
Obstacles that prevent or hinder new competitors from easily entering an industry or area of business.
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