Examlex
The long-term planning tools used for viewing a business and its environment in the broadest of terms are known as the operational plan.
Variable Costs
Costs that vary directly with the level of production.
Marginal Revenue
The increase in revenue that results from the sale of an additional unit of output.
Total Revenue
The total income received by a firm from the sale of its goods or services, calculated as the unit price multiplied by the quantity sold.
Market Demand
The total quantity of a good or service that all consumers in a market are willing and able to purchase at different prices during a specified time period.
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