Examlex
Indirect-fired water heater installations should include valves and tees to facilitate cleaning the coils.
Short-Run
A period in which at least one factor of production is fixed, influencing how businesses can respond to changes in demand or supply.
Total Costs
The aggregate amount of all costs, both fixed and variable, incurred in producing goods or providing services.
Microwave Ovens
Electrical appliances that use microwave radiation to heat and cook food rapidly.
Average Variable Costs
The cost per unit of output that changes with the level of production, calculated by dividing the total variable costs by the quantity of output produced.
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