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Describe the kernel of truth hypothesis. Give one example of how the kernel of truth is used toward an outgroup.
Total Cost
The total expense incurred in the production of goods or services, including both fixed and variable costs.
Average Fixed Cost
The total fixed costs of production divided by the quantity of output produced.
Marginal Cost
The change in total production cost that arises when the quantity produced is incremented by one unit.
Average Total Cost
The total cost of production divided by the number of units produced, which includes both fixed and variable costs.
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