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Maximize Profits
A business goal to achieve the highest possible profit by optimizing sales revenue and minimizing costs.
Constant Marginal
Pertains to a situation where the additional cost or benefit of producing one more unit of a good or service remains unchanged.
Average Cost
The sum of all production expenses divided by the amount of product made.
Marginal Revenue
The surplus revenue collected from the sale of an extra unit of a good or service.
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