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Two competitive brothers, who work in two different industries, were comparing their salaries. Because there is a difference of 4 years in their respective work experience, they decided to compare, not their actual salaries, but to compare their salaries against their company averages to see who is doing better. The following gives the brothers' salaries, companies' mean, and standard deviation for each company. Which brother earns a higher salary compared to the rest of their colleagues?
Patents
Legal documents granting exclusive rights to inventors for their creations, preventing others from making, using, or selling the invention for a certain period of time.
Marginal Revenue
The supplementary income produced through the sale of one extra product or service unit.
Total Revenue
The overall earnings from sales of goods or services prior to any expense deductions.
Demand Curve
A visual chart that illustrates the connection between a product's price and the amount consumers are willing to buy.
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