Examlex
What is sociobiology? How does it explain the evolution of behavioral traits?
ATC
Average Total Cost, which is the total cost of production divided by the number of units produced, encompassing both fixed and variable costs.
TC/q
Total cost divided by quantity; a formula to calculate the average total cost.
Average Total Cost
The sum of all production expenses divided by the quantity of products made, indicating the per-unit cost.
Average Fixed Cost
The fixed costs of production (e.g., rent, salaries) divided by the quantity of output produced; these costs decline as production increases.
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