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The easternmost part of the state of Texas, around the city of Paris, has a point rising more north than the rest of the state. When people draw Texas, they almost always draw the border as a straight line. It is not that these folks want to kick Paris, Texas, out of the state, it is just that:
Marginal Cost
The rise in overall expense due to the production of an extra unit of a good or service.
Output Produced
The total amount of goods or services created or produced by an economic unit, such as a company or country, within a specific period.
Substitution Effect
The change in the consumption of goods in response to a change in their relative prices, holding the consumer's level of utility constant.
Labor Supply Curve
The graphical representation showing the relationship between the different wage rates and the quantity of labor that workers are willing to supply.
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