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Which structure functions in equilibrium?
Average Variable Cost
The sum of all costs that vary with production volume, split by the number of units produced.
Average Total Cost
The expense per unit of output, calculated by dividing the total cost by the quantity of output produced.
Total Cost
The complete cost of production, combining all of the costs associated with the production of goods or services, including fixed and variable costs.
Economic Profit
The disparity between overall income and combined expenses, encompassing both direct and indirect costs.
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