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Is value maximization always ethical?
Marginal Cost
The extra expense incurred from manufacturing an additional unit of a product or service.
Price of Labor
The compensation paid to employees for their work or services, typically measured in terms of wages or salary.
Average Fixed Costs
The total fixed costs divided by the number of units produced, representing the fixed cost per unit of output.
Marginal Cost
The cost of producing one additional unit of a product or service.
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