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Profit
The financial gain achieved when the revenue from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.
Marginal Cost
The additional cost incurred by producing one more unit of a product or service, important for decision-making in pricing and production levels.
Average Total Cost
The total cost of production divided by the quantity of output produced, representing the per-unit cost of production.
Maximizing Profit
The process by which a company determines the price and output level that generates the maximum amount of profit.
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