Examlex
The symbols used in a language are arbitrary. In other words,
Total Variable
Expenses that change in proportion to the activity of a business, such as costs of goods sold, which vary with the level of production or sales volume.
Average Variable Cost
The variable costs of production (costs that change with output level) divided by the quantity of output, indicating the average variable cost per unit.
Producing Purses
Producing purses involves the manufacturing and assembling of various materials to create handbags and similar accessories.
Average Fixed Cost
The sum of all production fixed costs divided by the number of units produced.
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