Examlex
What is intangible creative work that is embodied in physical form and includes trademarks and patents?
Average Total Cost
Average total cost is calculated by dividing the total cost of producing a given output level by the quantity of output, reflecting the average cost per unit of output produced.
Total Profit
The net income a business earns after subtracting all costs, expenses, and taxes from the total revenue.
Per Unit Profit
The profit earned from selling one unit of a product, calculated by subtracting the cost per unit from the selling price per unit.
MR = MC Rule
A principle in economics where the optimal level of output is reached when marginal revenue equals marginal cost.
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