Examlex
For mountain ranges that are subjected to prevailing winds, which of the following best explains why is the climate drier on the leeward (downwind) side?
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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