Examlex
Which of the following may be ignored?
Average Variable Cost
The variable cost (e.g., labor, materials) per unit of output, calculated by dividing total variable costs by the number of units produced.
Average Total Cost Curve
A graphical representation showing how the cost per unit of producing a good changes with the level of output.
Marginal Cost
The increase in cost that arises from producing one additional unit of a product or service.
Cost Curve
A graphical representation that shows how the cost of producing a good varies with changes in the quantity produced.
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