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Benjamin is the manager of the editorial team of a science magazine.During the annual performance review,he explains in a gentle but firm manner about the areas that need improvement and also offers suggestions to help the team members.Therefore,Benjamin is engaged in _____.
Market Price
The current price at which a good or service can be bought or sold in a marketplace, determined through the supply and demand dynamics.
Average Revenue
Average revenue refers to the amount of money generated per unit of product sold, calculated by dividing total revenue by the number of units sold.
Marginal Cost
The additional expenditure required to produce one more unit of a product or service.
Marginal Revenue
The additional income that is generated from selling one more unit of a good or service.
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