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Which of the following products are, for MOST consumers, unsought?
Marginal Revenue
The supplementary earnings obtained by selling one more unit of a good or service.
Profit-Maximizing
The process or strategy of adjusting production and pricing to achieve the highest possible profit.
MR = MC
A condition where the marginal revenue (MR) equals marginal cost (MC), which is the profit maximizing level of output for a firm under perfect competition.
Marginal Revenue
The increased income derived from the sale of one extra unit of a good or service.
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