Examlex
This ethical theory is based on the obligation of the individual to perform his or her responsibility no matter the circumstance.
Marginal Benefit
The additional satisfaction or utility gained by consuming one more unit of a good or service, important for decision-making in consumption and production.
Marginal Benefit
The extra pleasure or benefit gained by an individual from consuming one more unit of a product or service.
Profit-Maximizing Principle
The economic principle that firms operate to achieve the highest possible profit from their operations, by adjusting output levels, pricing, or resource usage.
Marginal Analysis
An examination of the benefits and costs of an additional unit of change in economic decisions.
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