Examlex
What are the costs of inflation?
Average Total Cost
The total cost of production (fixed plus variable costs) divided by the quantity of output, representing the cost per unit including all expenses.
Average Variable Cost
The unit variable cost, determined by dividing the total variable expenses by the amount of output generated.
Marginal Cost
Marginal cost is the cost of producing one additional unit of a product or service.
Average Variable Cost
The total variable costs divided by the quantity of output, measuring the per-unit variable cost of production.
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