Examlex
Which of the following is the thinnest?
Sole Producer
A market situation where only one supplier exists for a particular good or service, often leading to monopolistic behaviour.
Average Revenue
The amount of money received by a firm per unit of output sold.
Average Variable Cost
The total variable costs divided by the quantity of output, representing the variable cost per unit of output produced.
Average Total Cost
The total cost of production divided by the total output or quantity produced, indicating the cost per unit of output.
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