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To reduce his daughter's fear of the dark,Mr.Chew would hug and gently rock her immediately after turning off the lights at bedtime.Mr.Chew's strategy best illustrates the technique of
Marginal Cost
The extra charge incurred upon the production of an additional good or service unit.
Industry Output
The total production of goods and services by all firms within a specific industry sector over a given period of time.
Duopolists
Firms or players in a market where only two producers exist, competing directly with each other.
McDonald's Franchise
A business agreement allowing an individual or entity to operate a McDonald's restaurant, adhering to the corporation's branding, operations, and product standards.
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