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Compare and contrast the action of each branch of government in the area of African-American civil rights. On which issues did they aggressively expand civil rights? On what issues were they hesitant to act? How has the role of each institution changed through time? In your opinion, what does this say about the ability of the American political system to adapt to changes in society? Are you optimistic or pessimistic?
Marginal Revenue
Marginal Revenue is the additional income received from selling one more unit of a product.
Marginal Decision Rule
A principle that states that an action should be taken if, and only if, the marginal benefits exceed the marginal costs.
MC > MR
A condition where a firm's marginal cost is greater than its marginal revenue, suggesting that it would not be profitable to increase output further.
Monopolistic Competition
A market structure where many companies sell products that are similar but not identical, leading to competition based on price, quality, and marketing.
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