Examlex
Identify the suffix and its meaning in the term hemostasis.
Average Fixed Cost
Average Fixed Cost is the fixed expenses of a company divided by the number of units produced, decreasing as production increases.
Marginal Product
The extra output or benefit received from using one more unit of a variable input.
Average Variable Cost
The total variable costs of production divided by the quantity of output produced; it varies with the level of output.
Average-Variable-Cost Curve
A graphical representation showing how average variable costs of production vary with the level of output, typically U-shaped due to economies and diseconomies of scale.
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