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If the Hennige family's marginal propensity to consume is .70,then it will necessarily consume seven-tenths of its total income.
Administrative Expenses
Costs related to the general operation and management of a business including office supplies, salaries of non-sales personnel, and rental fees.
Installment Sales
A method of recognizing revenue from sales that are paid for over time through multiple payments.
Initial Franchise Fee
A one-time charge that a new franchisee pays to the franchiser for the rights to operate a franchise, covering initial training, support, and access to the business model.
Material Services
Significant or essential services provided that contribute directly to the output of the production process or operational efficiency.
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