Examlex
Assume that variables represent positive real numbers. Replace the radical with rational exponents
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Inputs
Resources such as labor, materials, and capital that are used in the production process to create goods or services.
Average Total Cost
The total cost divided by the quantity produced, calculating the per-unit cost of production.
Variable Cost
Charges that adjust in alignment with the volume of production or output levels.
Total Cost
The sum of fixed and variable costs incurred in the production of goods or services.
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