Examlex
Which of the following statements is correct?
Per-unit Costs
Refer to the average cost for each unit of a product or service that is produced, including all relevant expenses.
Marginal Costs
The additional cost incurred by producing one more unit of a good or service.
Fixed Costs
Costs that do not change with the level of output or sales, such as rent, salaries, and insurance, remaining constant regardless of business activity levels.
Marginal Product
The increase in output that results from employing one more unit of a particular input, holding all other inputs constant.
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