Examlex
ISO 9000 is a way for a supplier to document that its quality procedures meet internationally recognized standards.
Marginal Revenue
The increase in total revenue resulting from the sale of one additional unit of a product or service.
Value of the Marginal Product
The additional revenue a firm generates from employing one more unit of input, keeping other inputs constant.
Marginal Productivity
The additional output generated by adding one more unit of a specific input, while holding all other inputs constant.
Marginal Cost
The cost added by producing one additional unit of a product or service, a crucial concept in economics for understanding optimization.
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