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A Modern Day Device That Does Not Need to Have

question 22

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A modern day device that does not need to have a computer chip built into it is


Definitions:

Marginal Revenue

The extra revenue a company earns by selling an additional unit of a product or service.

Prices

The cash amount one needs to spend to obtain a good, service, or asset.

Marginal Cost

The uptick in cumulative expenses that comes from producing an additional unit of a product or service.

Total Revenue

The total receipts from sales of a given quantity of goods or services.

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