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Contrast Kuba and Senufo masks. How does each function within its respective society?
Average Fixed Cost
The total fixed costs of production divided by the quantity of output produced, which decreases as production increases.
Average Total Cost
The total cost of production divided by the number of units produced, representing the average cost per unit of output.
Average Variable Cost
The total variable costs (costs that change with production volume) divided by the quantity of output produced.
Average Total Cost
The sum of all production costs divided by the quantity of output produced, representing the per-unit cost.
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