Examlex
Tables are only used to present specific, precise data, facts and figures.
Variable Cost
Costs that change in proportion to the level of goods or services that a business produces.
ATC
Average Total Cost, which is the sum of all production costs divided by the quantity of output produced.
MC
Marginal Cost, the change in total production cost that comes from making or producing one additional unit.
AFC
AFC, or Average Fixed Cost, is the total fixed costs of production divided by the quantity of output produced.
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