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Define and explain D'Aveni's 'hypercompetition' concept.What are the major competitive arenas for it to occur?
Marginal Cost
The alteration in overall expenses that occurs when the production volume is increased by one unit.
Marginal Cost Curve
A curve that illustrates how the cost of producing an additional unit of a good changes as the output level is increased.
Fixed Costs
Costs that do not vary with the level of output or activity, such as rent, salaries, or loan payments.
Average Total Cost
The total cost of production divided by the number of units produced, representing the per-unit cost of production.
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