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Dave is reminiscing about the first car he owned in high school and how he felt the first time he drove it through town. This is an example of
Units
Basic measures or quantities, such as length, mass, time, etc., that serve as standards for expressing and comparing quantities.
Average Total Cost
The total cost of production (fixed and variable costs combined) divided by the number of units produced.
Units
Basic quantities or measures adopted by convention or by law, used as a standard to express physical quantities.
Diminishing Returns
An economic principle where the addition of a variable factor to a fixed factor leads to a decrease in the marginal output of the variable factor beyond a certain point.
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