Examlex
In the Keynesian-cross model, the equilibrium level of income is determined by:
Average Total Cost
The cost per unit is determined by dividing the overall production costs, which include both fixed and variable expenses, by the total units manufactured.
Marginal Cost
The supplementary expenditure incurred by making one more unit of a product or service.
Relevant Resources
Resources that are directly applicable to the current economic, educational, or social context or need.
Industry Expands
This refers to the growth in the production capacity and output of various sectors in an economy, often due to increased demand or technological advancements.
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