Examlex
BPM is an implementation of BPR.
Average Total Cost
The total cost of production divided by the quantity of output produced, representing the cost per unit of production.
Fixed Cost
Costs that do not change with the level of output or production, such as rent, salaries, and insurance.
Market Price
The actual selling price of a good or service in the marketplace at any given time.
Marginal Revenue
The increase in income a business achieves through the sale of one extra unit of a product or service.
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