Examlex
If all direct materials are added at the end of the production process,and the units have made it 50% of the way through the production process,then the percentage completion for direct materials is 100%.
Economic Profit
The separation between total proceeds and cumulative costs, covering both explicit financial outlays and implied expenses.
Opportunity Costs
The loss of potential gain from other alternatives when one particular alternative is chosen over others.
Marginal Revenue
The supplementary income produced through the sale of an extra unit of a product or service.
Equilibrium Price
The price at which the quantity of goods suppliers are willing to produce equals the quantity of goods consumers are willing to buy.
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