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What triggers the conflict of interest over strategy and goals in joint ventures?
Marginal Product
Refers to the additional output that is produced by adding one more unit of a specific input, assuming all other inputs are held constant.
Total Product
The total amount of output that a firm produces, usually measured over a certain time period, using all available inputs.
Total Costs
The sum of all expenses a company incurs to produce its goods or services, including fixed and variable costs.
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