Examlex
__________ is based on the relationships between effort, performance, and outcomes.
Marginal Analysis
Marginal Analysis is an examination of the additional benefits of an activity compared to the additional costs incurred by that same activity.
Relevant Costs
Only those costs that will be affected by a decision or action and therefore should be considered in decision-making.
Activity
In economic terms, refers to actions or engagements, such as production or consumption, within an economy.
Marginal Cost
The cost associated with the production of an extra unit of a product or service.
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