Examlex
Compared with oceanic crust the continental crust is generally lighter,____ and _____.
Average Fixed Cost
The total fixed costs of production divided by the quantity of output produced, typically decreasing as production scale increases.
Average Variable Cost
The total variable costs (costs that change with output level) divided by the quantity of output produced.
AVC
Average Variable Cost; the cost of variable inputs divided by the quantity of output produced.
AFC
Average Fixed Cost, which is the fixed costs of production divided by the quantity of output produced.
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