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Marginal Cost (Definition)
Marginal Private Cost (MPC)
The marginal private cost (MPC) represents the direct expense a producer incurs to create one additional unit of a product. It is termed 'private' to emphasize that it does not factor in any external costs that production might impose on other parties.
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Introduction to Microeconomics Course
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Marginal Private Cost (MPC)
Marginal Social Cost (MSC)
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Upward Slope of MPC in Weevokil Banana Production
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