Examlex
Match the terms with their correct meanings.
-Lower portion of the brain connecting the cerebrum with the spinal cord
MC
An abbreviation commonly used for marginal cost, which is the cost added by producing one additional unit of a product or service.
Average Variable Cost
The variable cost per unit of output; the total variable cost divided by the number of units produced.
Economic Profit
The gap between the complete income and all expenses, covering overt and hidden costs.
Minimum Wage
A price floor set for the price of labor.
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