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What do speech, language, and hearing scientists do?
Total Cost
The overall expense incurred in the production of goods or services, including both fixed and variable costs.
Average Variable Cost
It is calculated by dividing total variable costs by the total output produced, representing the variable cost per unit of output.
Variable Cost
Costs that change with the level of production or business activity, such as materials and labor.
Quantity of Output
Refers to the total amount of goods or services produced by a firm or an economy within a specific time period.
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