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What advantages did the railroad have over the other means of transportation during the pre-Civil War era? Why has modern scholarship deflated the importance of the railroads' role in U.S.history?
Contribution Margin
The difference between the sales revenue of a company and its variable costs.
Fixed Budget
A budget that remains unchanged and is based on a fixed level of activity, regardless of actual levels of output, sales, or revenue throughout the budget period.
Flexible Budget
A budget that adjusts or flexes with changes in volume or activity levels, allowing for more accurate financial planning and analysis.
Contribution Margin
The difference between sales revenue and variable costs, showing how much revenue contributes to covering fixed costs.
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