Examlex
Intersectionality takes an additive approach to understanding oppression.
Average Fixed Cost
Average Fixed Cost refers to the total fixed costs (costs that do not change with the level of output) divided by the quantity of output produced. It decreases as production increases.
Total Variable Cost
The total of expenses that vary directly with the level of production, such as raw materials and direct labor.
Marginal Product
The additional output resulting from the use of one more unit of a production input, keeping other inputs constant.
AVC
Average Variable Cost, which is the total variable costs divided by the quantity of output produced.
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