Examlex
Multiply and simplify.
Marginal Cost
The price of making one more unit of a product or service.
Average Product
The output per unit of input, such as labor or machinery, typically used in the context of analyzing production efficiency.
Marginal Cost
The increase in total cost that results from producing one additional unit of a good or service.
Total Cost
The total economic cost of production, including both fixed and variable costs.
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