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Marginal cost equals average variable cost when the latter is at a minimum.
Stereotypes
Oversimplified, generalized beliefs or ideas about a group of people, based on assumptions about traits, behaviors, and roles.
Older People
Individuals typically categorized as being in the later stage of life, often considered to be beyond middle age.
Retirement Years
Retirement years are the period in life after an individual has ended their professional career or active work life, often focusing on personal interests, family, and leisure activities.
Comparable Jobs
Refer to positions that require similar skills, responsibilities, and effort, and are subject to similar working conditions, thus warranting similar pay scales.
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