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Evaluate the integral.
Average Total Cost
The total cost per unit of output, calculated by dividing the total cost by the quantity of output produced.
Average Total Cost Curve
A graphical representation showing how the average total cost of production changes as the quantity of output changes.
Long-Run Equilibrium
A state in which all factors of production and costs are variable, allowing firms to make adjustments and leading to a situation where economic profit equals zero.
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