Examlex
A firm's total fixed cost:
Variable Cost
A cost that depends on the level of production chosen.
Marginal Revenue
The incremental gain in revenue achieved by a company for selling an additional unit of product or service.
Marginal Cost
The additional cost incurred by producing one more unit of a good or service, a critical concept for economic analysis and decision-making.
Total Revenue
The total amount of money received by a company from the sale of its goods or services before any expenses are subtracted.
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