Examlex
Which approach processes decisions as inputs and outputs?
Marginal Revenue
The profit enhancement from selling one more unit of a product or service.
Marginal Cost
The increase in total cost that arises when the quantity produced is incremented by one unit.
Total Profits
The financial gain obtained after subtracting total costs from total revenue over a period.
Marginal Revenue
The boost in income resulting from the sale of one more unit of a product or service.
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