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Marginal Revenue (MR)
The revenue derived from selling one additional unit of output.
Marginal Cost
The additional expense associated with manufacturing one extra unit of a product, emphasizing the cost variation.
Marginal Revenue
The additional income that is generated by selling one more unit of a product or service.
Loss Minimization
A strategy in economics and business focused on reducing the losses incurred by a firm or individual to the lowest possible level.
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