Examlex
If you were evaluating two mutually exclusive projects for a firm with a zero cost of capital, the payback method and NPV method would always lead to the same decision on which project to undertake.
Average Fixed Cost
The fixed costs of production (costs that do not vary with the level of output) divided by the quantity of output produced.
Marginal Cost
The increase in total cost that arises when the quantity produced is incremented by one unit.
Profit-maximizing Rule
The principle that firms maximize their profits by producing at a level where marginal costs equal marginal revenues.
Marginal Revenue
The increased earnings a business obtains from the sale of one extra item or service.
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