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Marginal Cost
The change in total production cost that arises when the quantity produced is incremented by one unit.
Fixed Cost
Expenses that do not change in proportion to the activity of a business, such as rent, salaries, and loan payments.
Variable
A variable is an element, feature, or factor that is liable to vary or change; in mathematics and statistics, it's a quantity that can assume any of a set of values.
Output
The aggregate production of goods or services by an enterprise, economic sector, or the entire economy.
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