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What amount of energy deficiency must occur to lose one pound of body fat?
Average Variable Cost
The total variable costs (costs that change with production volume) divided by the number of units produced.
Average Product of Labor
The output produced, on average, by one unit of labor, such as one worker or one hour of work.
Marginal Product of Labor
The additional output produced as a result of employing one more unit of labor.
Economies of Scale
The cost advantages that a business obtains due to expansion, where the average cost per unit of output decreases with increasing scale.
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