Consider this statement to make effective decisions, Operation Management

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Consider this statement to make effective decisions

Consider this statement: "To make effective decisions, managers must use basic cost and revenue relationships."
What are cost and revenue relationships? Describe them in detail.
What is the difference between marginal and incremental analysis? How can the methodology and tools of managerial economics help in decision making?
Support your answers with examples and reasoning. Comment on the postings of at least two peers.

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