Examlex
Antideficiency statutes are used to prohibit deficiency judgments on second mortgages.
AFC
Average Fixed Cost, which is the fixed costs of production divided by the quantity of output produced; a measure of economies of scale.
AVC
Average Variable Cost is the per-unit variable cost of production, which changes with the level of output.
Average Variable Cost
The cost per unit of output that varies directly with the volume of production, excluding fixed costs.
Average Total Cost
The sum expenses incurred in manufacturing, divided by the total units of production.
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