Examlex
Secondary data are data that already exist and are accessible.
Break Even
The point at which total costs and total revenues are equal, resulting in no net loss or gain.
Short Run
A period in which at least one factor of production is fixed and cannot be fully adjusted.
AVC Curve
The average variable cost curve, which shows how the unit variable cost of production changes with the level of output.
Profit-Maximizing
The process or strategy of adjusting production and pricing to achieve the highest possible profit margins for a business or firm.
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