Examlex
When entrepreneurs develop job descriptions, they should include _____ to prepare for the eventuality of hiring employees.
Profit
The financial gain made in a transaction, calculated as the difference between the revenue received and the costs incurred.
Average Total Cost
The total cost of production (fixed plus variable costs) divided by the total quantity produced.
Output
Represents the total amount of goods and services produced by an economy over a specific period.
Average Variable Cost
The total variable costs (costs that change with the amount of output produced) divided by the quantity of output produced.
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