Examlex
A proxy is revocable to the same extent as an agency.
Average Fixed Cost
The cost that remains constant per unit of output as total production increases or decreases.
Minimum Point
The lowest point on a curve, often related to economic graphs such as cost curves, indicating the least quantity of cost or effort.
Marginal Cost
The additional cost incurred from producing one more unit of a product or service.
Average Total Cost
The total cost of producing a given quantity of output divided by that quantity, representing the per unit cost of production.
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