Examlex
Solve the system by graphing. If there is no solution or an infinite number of solutions, so state. Use set notation to
express the solution set.
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ATC
Average Total Cost, the sum of all production costs divided by the quantity of output produced, representing the per-unit cost of production.
AVC
Average Variable Cost, which is the total variable costs of production divided by the quantity of output produced.
Marginal Cost
The increase in total cost that arises from producing an additional unit of a good or service.
Average Variable Cost
The total variable costs (costs that change with the level of output) divided by the quantity of output produced.
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