Examlex
Formed in 1957, the ________ set out to create a single European market by reducing barriers to the free flow of products, services, finances, and labor among member countries and developing policies on trade with nonmember nations.
ATC
Average Total Cost, which is the total cost of production divided by the quantity of output produced.
AVC
Average Variable Cost; the total variable cost divided by the quantity of output produced.
MC
MC often stands for Marginal Cost, which is the cost of producing one additional unit of a good.
ATC
Average Total Cost; the total cost of production divided by the quantity of output produced.
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