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Average Variable Cost
the total variable cost divided by the quantity of output produced; it shows the variable cost per unit of output.
Short Run
The short run is a period in which at least one factor of production is fixed, limiting the ability of a business to expand or reduce its output.
Shut Down
A temporary choice made by a company to halt manufacturing because of unsuitable market circumstances.
Shutdown Point
The level of production and price at which the revenue of a firm covers its variable costs, below which the firm would cease operations.
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