Saffold Corporation has provided the following data for December. 
The budget variance for December is:
Definitions:
Purely Competitive
A market structure characterized by a large number of small firms, homogenous products, and easy entry and exit, leading to firms being price takers.
Resource Demand Curve
A graphical representation showing the relationship between the price of a resource and the quantity of the resource demanded by employers.
Marginal Product
The additional output that results from using one more unit of a specific input, holding all other inputs constant.
Product Price
The monetary value assigned to a good or service that is to be sold in the marketplace.
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