Examlex
Which entity was created in 1965 by the federal government to provide economically disadvantaged children with nutritional, health, and educational services during their early years?
AVC
AVC, or Average Variable Cost, is the total variable costs divided by the quantity of output produced.
MC
Marginal Cost, the increase in total cost that arises from producing one additional unit of a product or service.
Total Variable Cost
Total Variable Cost is the sum of all costs that vary with the level of output produced, such as materials and labor.
Total Fixed Cost
The total of all expenses that do not change with production volume or output in the short term, for example, lease payments or wages.
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