Examlex
Arapaho is a Native American indigenous language.
Variable Cost
Costs that vary directly with the level of production, such as raw materials, labor, and energy used in the manufacturing process.
Long Run
A period in economics during which all factors of production and costs are variable, allowing for the full adjustment to changes.
Fixed Cost
Expenses that do not change with the level of output production, such as rent, salaries, or equipment leases.
Output
The quantity of a product or service produced within a given period by a company, sector, or economy.
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