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A virtual team is made up of associates who work together as a team but are separated by:
Marginal Revenue
The increase in total revenue that results from selling one additional unit of a product.
Average Revenue
The revenue generated per unit of output sold, calculated by dividing total revenue by the quantity of outputs sold.
Total Revenue
The overall amount of money earned by a business for its products or services before any costs or expenses are subtracted.
Marginal Cost
The increase in total cost that arises from producing an additional unit of output, crucial for decision-making in production.
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