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If a firm has sales revenue (spread evenly through a 360-day year) of $1,170,000 and accounts receivable of $130,000, its average collection period, or days sales outstanding, is 40 days.
Marginal Cost
The financial outlay involved in producing a supplementary unit of a good or service.
Crude Oil
A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials, used as a primary energy source.
Industry Output
The total production of goods and services produced by a specific sector of the economy over a given period.
Marginal Cost
The cost incurred from producing one additional unit of a good or service.
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