Examlex
Who was the leader of Kenya's nationalist movement and its first Prime Minister?
Average Fixed Cost
Costs of production that are stable (not varying with output amount) allocated across the number of units produced.
Fixed Cost
describes expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.
Variable Cost
Costs that change in proportion to the level of activity or volume of production in a business.
Average Fixed Cost
The constant expenses associated with production, when divided by the volume of goods produced, reduce as the production volume goes up.
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