Examlex
Match the term with the best descriptor.
-also called complete heart block
Marginal Cost Curve
A graph that shows the cost of producing one more unit of a good or service at each level of production.
Average Variable Cost
The cost per unit of varying inputs in the production process, calculated by dividing total variable costs by the quantity of output produced.
Economic Profits
Profits calculated by subtracting total explicit and implicit costs from total revenues; measures the excess over both the opportunity cost of capital and the wages that business owners could have earned elsewhere.
Marginal Cost
The escalation in total expenses incurred from the production of an additional unit of a product or service.
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