Examlex
What is the difference between accounting and finance?
Marginal Costs
The price increase resulting from the creation of an additional product or service unit.
Average Variable Costs
The total variable costs divided by the quantity of output produced, representing the variable cost per unit of output.
Marginal Revenue
Marginal Revenue is the additional income generated from selling one more unit of a good or service.
Profit-maximizing Level
The point at which a business achieves the highest profit, where marginal cost equals marginal revenue.
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