Examlex
What are the rules that govern how words are strung together into meaningful sentences?
ATC
Average Total Cost (ATC) refers to the total cost per unit of output produced, comprising both fixed and variable costs.
Variable Costs
Costs that change in proportion to the level of activity or volume of output in production.
Fixed Costs
Business expenses that remain constant regardless of the level of production or sales, such as rent or salaries.
Average Total Cost
The total cost divided by the number of units produced, calculating the cost to produce an average unit of output.
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