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Balance theory predicts that tension is greatest when group members
Total Profit
The total income of a business after all expenses and costs have been subtracted from total revenue.
Willingness to Pay
The maximum price a consumer is prepared to pay for a good or service, reflecting its perceived value.
Marginal Benefit
The extra pleasure or benefit gained from the consumption of one more unit of a good or service.
Optimal Quantity
The quantity of a good or service that maximizes a firm's profits or an individual's utility, based on cost and benefit analysis.
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