Examlex
What process involves converting sound waves into words?
Increase in Demand
A situation where the quantity of a good or service that consumers are willing and able to purchase at a particular price rises.
Marginal Revenue
The additional revenue that a firm gains when it sells one more unit of a product or service.
Average Total Cost
The total cost of production (fixed plus variable costs) divided by the number of units produced.
Marginal Cost
The rise in production costs when one more unit of a product or service is produced.
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