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Suppose we are considering the relationship between two variables y and x. y is measured on the y-axis and x is measured on the x-axis, and the relationship between then is a straight line. Suppose that the slope of the line is positive and is less than 1. This slope means that a change in x is associated with
Opportunity Cost
The potential benefit lost when choosing one alternative over another.
Excess Capacity
The amount by which current production capabilities exceed the current demand for a company's products or services.
Performance Evaluation
The process of assessing and reviewing an employee's or an organization's performance against predetermined objectives or criteria.
Bottom-line Profit
The net income or the final profit figure after all expenses, taxes, and costs have been subtracted from total revenues.
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