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Firms should consider developing custom software only if
Technological Innovation
The development and application of new ideas, devices, or methods in technology which significantly improve goods, services, or processes.
Cost Curves
Graphical representations of how the cost of production varies with changes in the quantity of output produced, including average and marginal costs.
Average Fixed Cost
Fixed cost divided by the level of output.
Producer Surplus
The gap between the price that suppliers are prepared to take for a product or service and the real price they get.
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