Which cycle is being described in the following situations?
Definitions:
Profit
The profit earned when the revenue generated from a business operation surpasses all its associated expenses, costs, and taxes required for the operation.
Competitive Market
A market structure characterized by a large number of buyers and sellers, where no single participant can significantly influence price or supply.
Marginal Cost
The change in total cost that arises when the quantity produced is incremented by one unit.
Average Variable Cost
The variable cost per unit of output, calculated by dividing total variable costs by the quantity of output.
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