Examlex
A conservative estimate of the cost of recruiting,selecting,and training a US sales assistant in a retail store is about $5,000.
Output Level
Refers to the quantity of goods or services produced by a firm or an economy at a given time.
Marginal Revenue
The additional revenue that is gained from selling one more unit of a product or service.
Marginal Cost
Expenses incurred from making one more unit of a product or service.
Average Revenue
The mean amount of money earned per unit sold, calculated by dividing the total revenue by the quantity of units sold.
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