Examlex
Define indirect cost.
Economic Profit
The profit a company makes after accounting for both its explicit and implicit costs, differing from accounting profit by considering opportunity costs.
Marginal Revenue
The additional income earned from the sale of one more unit of a product or service.
Industry Standard
A set of criteria within an industry that acts as an agreed-upon norm or benchmark for products, services, and processes.
Economies of Scale
A concept in economics where increasing the scale of production leads to a decrease in the average cost of each unit produced.
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