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Describe the ways in which GE is breaking down boundaries.
Marginal Revenue
The additional income that a business receives from selling one more unit of a good or service.
Economic Profits
The difference between total revenues and total costs, including both explicit and implicit costs.
Short-Run Equilibrium
A state in which market supply and demand balance out at current prices, leading to an economic situation where no incentive exists for prices to change.
Allocative Efficiency
A state of resource distribution where it is impossible to make one individual better off without making someone else worse off.
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