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With the aging of the baby boomers, demand for quality long-term care will__________
Average Fixed Cost
The total fixed costs of production divided by the quantity of output produced.
Marginal Cost
The change in total production cost that arises when the quantity produced is incremented by one unit.
Average Total Cost
The total cost of production divided by the number of units produced, which includes both fixed and variable costs.
Average Total Cost
The total cost divided by the number of goods or services produced, representing the per unit cost of production.
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