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When the marginal benefit of producing an additional unit of a good (in this case, apples) is greater than the marginal cost of producing it, a rational producer will increase production to maximize profit or utility. The producer should continue to produce more apples until the marginal benefit equals the marginal cost. This is a fundamental principle in economics: as long as the benefit of producing an additional unit exceeds its cost, production should continue to increase.
What percentage of India's domestic airline capacity was accounted for by low-cost carriers (LCCs) in April 2024?
Which project in Bangladesh will receive the highest amount of funding from the World Bank's recent agreement?
Which of the following Logistics Technology Platform has crowned as the 106th Unicorn of India?
Which date is solemnly observed as the martyrdom day of Shaheed Bhagat Singh, Rajguru, and Sukhdev?
Consider the following statements in regards to generative AI.
1) It is a transformative type of artificial intelligence.
2) Accenture has...
“Hitonpay Lifecare” is a _________.
Why do pickles last longer?
Which of the following activities is NOT part of the Union health ministry's 'Ayushman Bhav' program?
Who is known as the "Beacon of Light of Asia"?
What is the theme of World Cancer Day 2022?