Examlex
A study of the business processes would uncover the relationships among events, resources, and agents.
Profit
The financial gain realized when the revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.
Price-taker Firm
A firm that has no control over the market price and must accept the prevailing market price for its products.
Marginal Revenue
The extra revenue generated by the sale of an additional unit of a product or service.
Marginal Cost
The cost of producing one additional unit of a product or service.
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