Examlex
When decreases in one variable are accompanied by decreases in another variable, the variables are described as
Variable Cost
Costs that change in proportion to the level of output or activity in a company’s production or operations.
Average Variable Cost
The total variable cost per unit of output, which varies with the level of production.
Output
Output is the amount of goods or services produced by a person, machine, factory, or system over a specific period of time.
Labor
The effort by humans to produce goods or services in the economy. It is one of the primary factors of production.
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