Examlex
Define the following
-Ego boundaries
Marginal Cost
The increase in total cost that arises when the quantity produced is incremented by one unit.
Profit-maximizing Rule
The principle that firms maximize their profits by producing at a level where marginal costs equal marginal revenues.
Marginal Revenue
The increased earnings a business obtains from the sale of one extra item or service.
Marginal Cost
The increase in total cost that arises from producing one additional unit of a product.
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