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Average variable cost is the ratio of:
Converting Nonbuyers
The process of persuading individuals who have not previously purchased a product or service to make a purchase.
New Applications
The novel uses or markets for existing products or technologies, often leading to innovation and expansion of business opportunities.
Adjacency Paths
Adjacency Paths relate to the strategic options a business may explore to grow by venturing into areas or markets closely related to its current operations or expertise.
New Geographies
Expansion or exploration into new geographical areas or markets by businesses seeking growth or diversification.
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