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Precast concrete curtain (PCC)wall panels are non- load- bearing elements. Yet the concrete used in them is of higher strength (generally 5,000 psi)than that used in the structural frame of the building (general 4,000 psi). Explain why that is so.
Opportunity Cost
The best alternative that we forgo, or give up, when we make a choice or a decision.
ΔTVC/Δq
ΔTVC/Δq represents the change in Total Variable Cost (TVC) resulting from producing one additional unit of output, equivalent to Marginal Cost.
AVC
AVC, or Average Variable Cost, is the total variable costs divided by the quantity of output produced.
MC
Marginal Cost, the increase in total cost that arises from producing one additional unit of a product or service.
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