Examlex
The physical property that predicts the direction of water flow is referred as ________.
AVC
Average Variable Cost refers to the sum of all variable expenses incurred when producing an item, divided by the number of units produced.
ATC
Average Total Cost is determined by dividing the overall cost by the output quantity produced.
MC
Short for Marginal Costs, representing the additional cost incurred in producing one additional unit of a good or service.
AVC
Average Variable Cost, which is the total variable costs of production divided by the quantity of output produced.
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