Examlex
Your business plan should be designed to be flexible, to allow for rapid adjustments as more information becomes available.
Average Variable Cost
The total variable cost divided by the quantity of output produced; it represents the variable cost per unit of output.
Marginal Cost
Marginal cost is the cost of producing one additional unit of a good or service.
Consumer Demand
The desire of purchasers, consumers, clients, or users to buy goods and services measured over time.
Competitive Industry
An industry characterized by many buyers and sellers, such that no single market participant has significant influence over prices.
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