Examlex
Define gender-fair language and explain why it is important.Provide an example of such language.
Average Variable
The variable cost per unit of output, calculated by dividing total variable costs by the quantity of output produced.
Economic Loss
The decrease in financial value or wealth, often resulting from business operations, market movements, or external economic events.
Perfectly Competitive
Characterized by a large number of sellers and buyers, none of whom can influence market prices significantly.
Fixed Costs
Expenses that do not change with the level of production or sales, such as rent, salaries, and loan payments.
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