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Exhibit 34-4
-Refer to Exhibit 34-4. Under a fixed exchange rate system, at the exchange rate of E1, the peso is __________ and there is a __________.
Average Total Cost
The total cost per unit of output, calculated by dividing the total cost of production by the number of units produced.
Total Cost
The complete cost of production including fixed and variable costs.
Average Total Cost
The total of all costs divided by the number of goods produced, representing the per unit production cost.
Output
The total amount of goods or services produced by an individual, company, or country.
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