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Marginal Revenue
The additional revenue that a firm receives from selling one more unit of a good or service.
Marginal Cost
The extra expense resulting from the manufacture of an additional unit of a product or service.
Competitive Price-Taker
A market participant who cannot influence the price on the market but instead must accept the prevailing market price.
Marginal Revenue
The additional income earned from selling one more unit of a good or service.
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