Examlex
A common misconception is that because the human genome has been mapped as of June 26,2000,all human characteristics can be "read" from this information.Why is this belief a misconception?
Average Variable Cost
The total variable cost of production divided by the quantity of output, representing the variable cost per unit of output.
Average Total Cost
The total cost of production divided by the number of goods produced; it includes both fixed and variable costs.
Marginal Revenue
The incremental income produced through the sale of one additional unit of a good or service.
Marginal Cost
The extra cost triggered by the production of an additional unit of a product or service.
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