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Carol Zelner, the manager of a small event management company, is known for her efficiency. She provides the team with clearly defined tasks, guidelines, and directives. Further, she is always available to provide feedback or resolve troubles. Recently, with Carol on leave for about three weeks, the team had a lot of problems. The team members lacked the requisite information on client details, locations, and budgets and had to repeatedly cross-check with each other or the clients. Which of the following, if true, would best explain the problems faced by Carol's team currently?
Marginal Revenue
The augmented income earned from trading one extra unit of a product or service.
Total Revenue
The entire sum of funds a company acquires from selling goods or offering services over a specific duration.
Marginal Cost Curve
A graphical representation that shows how the cost of producing one additional unit of a good changes as production volume changes.
Average Variable Cost Curve
A graphical representation that shows how the cost per unit of producing a variable quantity of goods changes as the quantity of output is altered.
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