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What Is a Prototype, and How Are They Used in System

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What is a prototype, and how are they used in system development projects? Are there any inherent risks in using them?


Definitions:

Short-Run Equilibrium

A state in which supply and demand are balanced at a particular price level within a short timeframe, before any significant external changes can occur.

Total Cost

The entire cost of production including both fixed and variable costs.

Marginal Cost

The upsurge in total financial outlay occasioned by the production of one supplementary unit of a product or service.

Marginal Revenue

The additional revenue that a firm gains when it sells one more unit of a product.

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