Examlex
Which of the following equations can be used to compute a firm's magnitude of operating leverage?
MRC
Marginal Resource Cost, the cost of utilizing one additional unit of a resource or factor of production.
MRP
Marginal Revenue Product; the additional revenue generated from employing one more unit of a resource, commonly applied in economics.
Marginal Product
The additional output resulting from the use of one more unit of a production input, holding other inputs constant.
Variable Input
A variable input is one whose amount can be adjusted in the short term to either raise or lower output levels.
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