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What is a business portfolio? What are the steps involved in business portfolio planning?
Marginal Cost Curve
A graph that displays how the expense of producing one additional unit of a good changes as production volume varies.
Average Variable Cost
The variable cost per unit of output.
Short-Run Marginal Cost
The cost incurred by producing one more unit of a product or service in the short term, where some inputs are fixed.
Average Variable Cost
The cost per unit of output that varies with the level of production, excluding fixed costs.
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