Examlex
The national standard for rooms cleaned by one room attendant in one eight hour period varies from _______ rooms depending on the market mix of the hotel occupancy.
Economic Depreciation
A measure of the decrease in value of an asset over time due to use, wear and tear, and obsolescence.
Marginal Product
The increase in output that arises from an additional unit of input, holding all other inputs constant.
Labor
The human effort, both physical and mental, used in the production of goods and services.
Average Variable Cost
The variable cost per unit of output, calculated by dividing total variable costs by the quantity of output.
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