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Explain why a relative price is an opportunity cost.
Gross Collection Ratio Formula
A financial metric used to assess the efficiency of a company's collections department, calculated by dividing total collections by the total amount of billable charges.
Total Charges
The complete amount of money required for a particular service, product, or procedure, including all associated costs and fees.
Portable Document Format, a file format developed by Adobe Systems used to present documents independent of software, hardware, or operating system.
Mailing Invoices
The process of sending bills for goods or services provided to a client or customer through the postal service.
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