Examlex
The correct systematic name of AlCl3 is aluminum chloride.
Average Variable Cost
The average cost of variable inputs (like labor and materials) per unit of output produced.
Minimum
The lowest point on a nonlinear curve, where the slope changes from negative to positive.
Economic Profit
The difference between the total revenue received by a business and the total implicit and explicit costs of a business.
ATC
Average Total Cost, which is the sum of all production costs divided by the quantity of output produced.
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