Examlex
Economic profit is
Complementary Resource
refers to inputs or goods that are used together with another resource or good to produce a product or service.
Marginal Revenue Product
This is the additional revenue generated from employing one more unit of a factor of production, such as labor.
Total Revenue
The total amount of money received by a company for goods sold or services provided during a certain time period.
Average Revenue Product
The increase in total revenue resulting from employing one more unit of a resource, holding all other factors constant.
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