In the case where TC exceeds TR the firm will want to minimize the economic loss which is defined as the [...].
smallest difference between TC and TR
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Open it In the case where TC exceeds TR the firm will want to minimize the economic loss (as long as TR > TVC), which is defined as the smallest difference between TC and TR. This occurs at Q min , where the economic loss is calculated as (TC M – TR N ) on the vertical axis.
last interval [days]
repetition number in this series
scheduled repetition interval
last repetition or drill
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