Examlex
A Gantt chart is apopular visual tool for displaying the established precedence relationships.
Marginal Cost
The added cost resulting from the manufacture of one more unit of a product or service.
Variable Input
A factor of production whose quantity can be changed easily and flexibly by a firm in the short run to adjust output levels.
Average Variable Cost
The total variable cost divided by the quantity of output produced; it shows the variable cost per unit of output.
Marginal Product
The extra output generated from the inclusion of one additional unit of a particular input while maintaining all other inputs unchanged.
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