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Discuss the need to balance two opposing forces in the control process that influences the way organizations change.
Fixed Cost
Costs that do not vary with the level of output produced, such as rent, salaries, and some utilities.
Cartel
A group of manufacturers or suppliers formed to keep prices high and limit competition.
Marginal Cost Curve
A graphical representation that shows how the marginal cost of producing one more unit varies with the level of production.
TC Curve
A visual representation showing the relationship between the total cost incurred by a firm and the level of output produced.
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