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Earnest Hooton was a proponent of this idea.
Profit
The financial gain realized when the revenue from selling goods or services exceeds the cost of production.
Marginal Cost
Incremental expenditure incurred by manufacturing an additional unit of a product or service.
Selling Price
The price at which a product or service is sold to customers.
Marginal Cost
Expenditure incurred in producing an additional unit of a good or service.
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