Examlex
What are the three major theoretical approaches to reward administration?
Marginal Costs
The expense associated with the production of an extra unit of a product or service.
Marginal Returns
The additional output that is produced as a result of increasing one more unit of an input while holding other inputs constant.
Marginal Cost
The additional cost incurred from the production of one more unit of a product or service.
Total Cost
The complete cost of production that includes both fixed and variable costs.
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