Examlex
The high-low method is used in classifying a mixed cost into its variable and fixed elements.
MU/P Ratio
The Marginal Utility to Price ratio, used in economic analysis to evaluate the satisfaction received from consuming an additional unit of a good relative to its cost.
Marginal Utility
The additional satisfaction or benefit received from consuming one more unit of a good or service.
Total Utility
The complete satisfaction received from consuming a particular quantity of goods or services.
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