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Average Total Cost
Average Total Cost is an economic concept that represents the total cost of production divided by the quantity of output produced, encompassing both fixed and variable costs.
Output
The total amount of goods or services produced by a firm, industry, or economy in a given period.
Average Fixed Cost
Fixed production costs (expenses unaffected by output levels) divided over the produced output quantity.
Total Revenue
The overall amount of money generated by a business from its sales activities before any costs or expenses are subtracted.
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