Examlex
When a minor voluntarily leaves home and live apart from his/her parents,this is called:
Average Total Cost (ATC)
The per unit cost of production, calculated by dividing the total cost by the quantity of output produced.
Total Cost
The total of all costs associated with producing goods or services, encompassing both fixed and variable expenses.
Output
The amount of goods or services produced by a company, industry, or economy within a specific period.
Marginal Cost Curve
A graphical representation showing how the cost of producing one more unit of a good varies with the quantity of the good produced.
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