Examlex
ERG theory explains both progression need and gratification up the hierarchy and regression when people are faced with frustration.
Marginal Cost
Marginal cost refers to the increase or decrease in the total cost when the quantity produced is incremented by one unit.
Fixed Cost
Costs that remain constant regardless of the amount of goods produced or sold, including rent, wages, and insurance premiums.
Sunk Cost
Costs that have already been incurred and cannot be recovered or refunded, and should not influence future business decisions.
Average Fixed Cost
The cost incurred for fixed inputs (rent, salaries) divided by the quantity of output produced, which decreases as production increases.
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