Examlex
In the process of shaping,behaviors are ordered in terms of increasing similarity to the desired response.These behaviors are called:
Marginal Revenue
The additional income received from selling one more unit of a good or service, used to analyze and optimize profit and pricing strategies.
Economic Profits
Profits exceeding the total costs of resources used, including both explicit and implicit costs.
Opportunity Costs
The financial loss associated with overlooking the alternative that is considered second-best when making a choice.
Average Total Cost
The total cost of production (fixed and variable costs combined) divided by the total quantity of output produced.
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