Examlex
An ERP solution consists of application programs, databases, and business process procedures, but does not contain training and consulting.
Break-even Price
The price at which the total revenues of a business exactly cover its total costs, thus resulting in neither profit nor loss.
Marginal Revenue
The rise in income generated by selling an additional unit of a product or service.
Average Total Cost
The cost per unit of output, calculated by dividing the total production cost by the total quantity produced.
AVC Curve
A graph representing the average variable cost of producing different quantities of output, typically U-shaped due to economies and diseconomies of scale.
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