Examlex
The origins of the 17th century worldview lie mostly in the developments in
MC Curve
Short for Marginal Cost Curve, it represents the change in total cost that arises when the quantity produced is incremented by one unit.
Marginal Cost
The increase in cost that arises from producing one additional unit of a good or service.
Average Total Cost
The total cost of production divided by the total quantity produced, indicating the average cost per unit of output.
Marginal Product
The additional output that is produced by adding one more unit of a specific input, while holding other inputs constant.
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