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Logistics Inc is considering buying an new cube van for $150 000 which will have a scrap value of $10 000 after its 8 year life. The total savings due to the new van compared with continuing without will be $12 000 the first year increasing by $6 000 each year thereafter. The total extra costs due to the van is estimated to be $5 000 per year. Logistics Inc has a MARR of 10%. Using the IRR for Independent Projects method determine if the van should be purchased.
Dominant
In a strategic or competitive context, dominant refers to a position of advantage where an entity (such as a firm, product, or strategy) significantly outperforms or influences others.
Marginal Revenue
Marginal revenue is the additional income generated from selling one more unit of a good or service.
Marginal Cost
The cost of producing one additional unit of a good or service, reflecting how total cost changes with output variation.
Monopoly
is a market structure characterized by a single seller dominating the entire market by selling a unique product or service.
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