Examlex
Discuss organizations as systems.
Total Revenue
The total amount of money received by a company from sales of its products or services before any expenses are subtracted.
Total Output
The total quantity of goods or services produced by a firm or economy.
Perfect Competition
A market structure characterized by a large number of small firms, a homogenous product, perfect information, and easy entry and exit, leading to firms being price takers.
Marginal Decision Rule
A principle stating that an action should be taken if, and only if, the marginal benefit of the action exceeds its marginal cost.
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