Examlex
What happens at the glomerular membrane?
AVC
Average Variable Cost, which is the total variable costs of production divided by the quantity of output produced.
ATC
Stands for Average Total Cost, a metric that represents the per-unit total cost of production, including both fixed and variable costs.
MR
Short for Marginal Revenue, the increase in total revenue a firm receives from selling one additional unit of a good or service.
Economic Profits
The difference between the revenue received from the sale of an output and the opportunity cost of the inputs used.
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