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Which of the following early signs of shock is easily missed?
Variable Cost
Costs that vary directly with the level of production or output, such as materials and labor directly used in the manufacturing process.
Average Cost
Generally refers to the average total cost, representing the per unit total cost of production, including both fixed and variable costs.
Average Total Cost Curve
A graphical representation showing how the average cost of production changes as the quantity of output is altered.
Total Cost
The total amount of money spent on creating goods or services, encompassing both constant and fluctuating expenses.
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