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Describe economic feasibility analysis.What techniques are used in economic feasibility analysis?
Average Cost
The total cost of production divided by the number of goods produced, representing the cost per unit of output.
Marginal Cost
The financial outlay for creating one further unit of a good or service.
Extent Decisions
Decisions related to the scale or scope of an operation or project, often involving considerations of expansion or reduction.
Tract of Trees
A large area of land predominantly covered by forest or a specific type of tree, often used for timber or conservation purposes.
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