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In retail, unit price is the price for a single unit of measure of a product sold in more or less than the single unit. [2] The "unit price" tells you the cost per pound, quart, or other unit of weight or volume of a food package. It is usually posted on the shelf below the food. The shelf tag shows the total price (item price) and price per ...
In mathematics, a rate is the quotient of two quantities in different units of measurement, often represented as a fraction. [1] If the divisor (or fraction denominator) in the rate is equal to one expressed as a single unit, and if it is assumed that this quantity can be changed systematically (i.e., is an independent variable ), then the ...
A marginal value is. a value that holds true given particular constraints, the change in a value associated with a specific change in some independent variable, whether it be of that variable or of a dependent variable, or. [when underlying values are quantified] the ratio of the change of a dependent variable to that of the independent variable.
The unit price is the price per volume or weight of the item. So a product that comes in different sized packages will show a different unit price for each variety of package. Showing the price ...
Value added. Value added is a term in financial economics for calculating the difference between market value of a product or service, and the sum value of its constituents. It is relatively expressed to the supply-demand curve for specific units of sale. [1] It represents a market equilibrium view of production economics and financial analysis.
Exponential growth is a process that increases quantity over time at an ever-increasing rate. It occurs when the instantaneous rate of change (that is, the derivative) of a quantity with respect to time is proportional to the quantity itself. Described as a function, a quantity undergoing exponential growth is an exponential function of time ...
A good's price elasticity of demand ( , PED) is a measure of how sensitive the quantity demanded is to its price. When the price rises, quantity demanded falls for almost any good ( law of demand ), but it falls more for some than for others. The price elasticity gives the percentage change in quantity demanded when there is a one percent ...
In economics, a cost curve is a graph of the costs of production as a function of total quantity produced. In a free market economy, productively efficient firms optimize their production process by minimizing cost consistent with each possible level of production, and the result is a cost curve. Profit-maximizing firms use cost curves to ...