Examlex
Secondary texts do not merely translate what the theorist wrote into simpler terms; rather, in order to simplify, they must revise what an author has said.
AVC
Average Variable Cost, which is the total variable costs (costs that change with production levels) divided by the quantity of output produced.
AFC
Average Fixed Cost; the fixed expenses of a company divided by the number of units produced.
AC
Typically refers to "air conditioning," a system for controlling the humidity, ventilation, and temperature in a building or vehicle.
Average Fixed Costs
The cost incurred by a company that does not change with the level of goods or services produced, averaged over a period.
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