Examlex
Find the limit of the sequence if it converges; otherwise indicate divergence.
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Average Fixed Cost
The fixed costs of production (expenses that do not change with the level of output) divided by the quantity of output produced.
Output
The total quantity of goods and services produced by an economy or a firm.
Average Total Cost
The total cost of production (fixed plus variable costs) divided by the quantity of output produced, a measure of per unit cost.
Marginal Cost
The cost of producing one additional unit of a good or service, which can vary depending on the level of production.
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