Examlex
Airline deregulation led to the demise of many smaller airlines but large carriers were not materially affected.
Explicit Costs
Direct, out-of-pocket payments made by businesses for resources and services.
ATC
Average Total Cost, which is the total cost of production divided by the number of goods produced, representing the per unit cost of production.
AVC
Average Variable Cost is the total variable costs divided by the quantity of output produced; it represents the variable cost per unit of output.
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