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When is a variance considered to be 'material'?
Marginal Revenue
The extra revenue earned by selling an additional unit of a product or service.
Monopolist
An entity that is the sole provider of a particular product or service, controlling the market and setting prices without competition.
Marginal Revenue
The additional income received from selling one more unit of a product.
Marginal Cost
The additional cost resulting from the production of one more unit of a product or service.
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