Examlex
A forest fire is a density-independent population control factor.
Average Variable Cost
The total variable cost divided by the quantity of output produced, indicating the cost of producing each additional unit.
Market Price
The current value at which an asset or service can be bought or sold in a particular marketplace.
Average Total Costs
This term refers to the total costs (fixed plus variable) of production divided by the total quantity of output produced.
Marginal Costs
The cost incurred by producing one additional unit of a good or service, reflecting the change in total cost that comes from a change in quantity produced.
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