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The ethnocentric pricing responds to the competitive and market conditions of national market.
Total Product Curve
This curve graphically represents the total output produced by a firm in relation to varying levels of a single input, assuming all other inputs are held constant.
Total Utility
Denotes the total satisfaction a consumer derives from consuming a specific quantity of goods or services.
Marginal Utility
The additional satisfaction or benefit gained from consuming one more unit of a good or service.
Process Innovation
Innovations that involve a new or significantly improved production or delivery method, enhancing efficiency or quality.
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