Examlex
A hierarchical listing of what must be done during a project is called matrix.
Total Fixed Costs (TFC)
The sum of all costs that remain constant regardless of the level of production or output in the short run.
Average Fixed Cost
The fixed costs of production divided by the total units of output, which decreases as production increases.
Total Cost
The complete cost of production, combining both fixed and variable costs.
Total Variable Cost
Total Variable Cost is the sum of all costs that vary with the level of production, such as materials and labor directly involved in the production.
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