Examlex
A test market study is a form of causal research.
Incremental Cost
The additional cost incurred to produce one more unit of a good or service.
Opportunity Cost
The potential benefit that is missed out on when choosing one alternative over another.
Opportunity Costs
The cost of an alternative that must be foregone to pursue a certain action. Put another way, the benefits you could have received by taking an alternative action.
Make Total Cost
An approach to calculate the comprehensive cost of manufacturing a product, including raw materials, labor, and overheads.
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