Examlex
The first major issue that emerges in debates over experimenting on animals centers around the
Marginal Cost
The rise in expense associated with the production of an extra unit of a product or service.
Average Variable Cost
The total variable cost divided by the quantity of output produced; it measures the variable cost per unit of output.
Average Total Cost
The per unit cost of production, calculated by dividing the total costs by the quantity of output produced.
Profit-maximizing
A strategy or point at which a business makes the greatest financial gain, where marginal revenue equals marginal cost.
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