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Which of the following statements regarding the heart is FALSE?
Average Variable Costs
The sum of all costs that fluctuate based on the amount of production, divided by the total units of output created.
Average Fixed Costs
The costs that do not vary with the level of output production, such as rent, salaries, and insurance.
Average Variable Costs
Calculated by dividing the total variable costs by the quantity of output produced; it's the variable cost per unit of output.
Average Variable Costs
an economic measure representing variable costs (expenses that change with production levels) averaged over a quantity of output.
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