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Even reasonable contracts with minors are unenforceable.
Marginal-Cost Curve
A curve that shows the cost of producing one additional unit of a good or service.
Average-Total-Cost Curve
A graphical representation that shows the average total cost per unit of output at various levels of production.
Average Total Cost
The total cost of production divided by the quantity of output produced, indicating the average cost per unit.
Total Output
Total output is the total quantity of goods or services produced by an economy, firm, or machine in a specific period.
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