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What are the two primary marketing strategies? What are the advantages and disadvantages of each approach?
Market Price
The current price at which a good or service can be bought or sold in a given market, determined by supply and demand forces.
Average Total Cost
The total cost of production (fixed plus variable costs) divided by the total quantity produced, representing the cost per unit of output.
Marginal Costs
The cost incurred by producing one additional unit of a product or service.
Market Price
The amount at which a good or service is currently sold in the market, determined by supply and demand.
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