Examlex
The division of labour is the dividing of the production process into a series of specialized tasks,each done by a different worker.
Price
The monetized value required, forecasted, or offered in return for a service or good.
Marginal Cost
The increase in total cost that arises from an extra unit of production, focusing on the cost variation from an additional output.
Marginal Revenue Curve
A graphical representation that shows how additional sales revenue changes with each extra unit of output sold.
Shift Right
In economics, a rightward shift in the demand or supply curve indicates an increase in demand or supply, respectively, at every price level.
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