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Average Fixed Costs
The sum of all fixed production costs divided by the number of units produced.
Total Costs
The sum of all expenses a firm incurs in the production of goods or services, including both fixed and variable costs.
Average Fixed Cost
The constant expenses associated with production, which remain unchanged regardless of output levels, divided by the output quantity.
Average Variable Cost
The total variable costs divided by the quantity of output produced, reflecting the cost for each unit excluding fixed costs.
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