Examlex
Which of the following terms does NOT apply to Sarah Pryke, Staffan Andersson and Michael Lawes's (2001) study of red-collard widowbirds?
AFC
Average Fixed Cost, the fixed cost per unit of output, calculated by dividing total fixed costs by the quantity produced.
Average Total Cost
The total cost of production (fixed and variable costs combined) divided by the total quantity of output produced.
Average Fixed Cost
The fixed cost per unit produced, calculated by dividing total fixed costs by the quantity of output produced.
Marginal Cost
The charge for generating one more unit of a good or service.
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