Examlex
What is religiosity and how is it measured?
Average Cost
The total cost of production divided by the quantity of output produced, also known as the cost per unit.
Marginal Cost
The escalation in aggregate cost that comes from generating one more unit of a product or service.
Fixed Cost
Costs that do not change with the amount of goods or services produced by a business.
Variable Cost
Costs that vary directly with the level of production or volume of output.
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