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When working with an elderly patient,
Average Fixed Costs
The fixed costs of production (such as rent and salaries) divided by the quantity of output produced.
Average Total Costs
The overall expense of creating goods divided by the number of items produced.
Output
The quantity of goods or services produced by a firm, industry, or economy within a specified period.
Total Costs
The sum of all expenses a firm incurs in producing a product or offering a service, including both fixed and variable costs.
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