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Shaker societies
Marginal Revenue
The increase in income achieved by selling an additional unit of a product or service.
Nondiscriminating Monopolist
A monopolist that charges all consumers the same price for its product or service instead of setting different prices for different consumers.
Marginal Revenue
The profit made by selling one more unit of a product or service.
Average Revenue
The amount of revenue generated per unit of output sold, calculated by dividing total revenue by the quantity sold.
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