Examlex
What is computer software?
Marginal Costs
The additional cost incurred in producing one more unit of a good or service.
Average Revenue
The amount of income generated per unit of output, calculated by dividing total revenue by the number of units sold.
Average Total Costs
The total costs of production (fixed and variable costs) divided by the number of units produced, showing the cost per unit.
Pure Monopoly
A market structure in which a single seller controls the entire supply of a product or service, and therefore can manipulate prices and conditions of sale.
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