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Define Q obt.
Total Cost Curve
A graphic representation showing how total cost changes with changes in the level of output or production.
Output
The amount of goods or services produced by a company, industry, or economy in a given period.
Isoquant
A curve representing all the combinations of inputs that result in the production of a certain level of output, used in the study of production theory.
Capital
The wealth, whether in money or other assets, owned or employed in business by an individual, firm, or country.
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