Examlex
Production and sales estimates for April are as follows:
The number of units expected to be manufactured in April is
Economic Profit
The difference between total revenue and total costs, including both explicit and implicit costs, indicating the profit beyond the normal return on investment.
Marginal Decision Rule
A principle stating that an action should be taken if, and only if, the marginal benefits are greater than or equal to the marginal costs.
MR
Short for Marginal Revenue, it refers to the extra revenue that an organization receives from selling one more unit of a good or service.
Maximizing Profit
The process a firm adopts to establish the optimal price and quantity for maximal profit.
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