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Define marginal cost and marginal revenue, and understand how to use them for decision-making.

Chapter 4: Define marginal cost and marginal revenue, and understand how to use them for decision-making. Define fixed cost and recognize its irrelevance to decision-making. Chapter 5: Understand discounting & compounding. Know how to calculate and use net present value to determine the profitability or otherwise of investments. Define and calculate break-even quantity and price, […]

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