Examlex
Match the terms with their correct meanings.
-Pertaining to the tongue and throat
Average Variable Cost
The cost per unit of producing additional units, excluding fixed costs, and is calculated by dividing total variable costs by the quantity of output.
Total Costs
The complete sum of all expenses a business incurs to produce its goods or services, including both fixed and variable costs.
Output
The cumulative quantity of products or services generated by a corporation, sector, or nation.
Average Total Cost
The total cost of production (fixed and variable costs combined) divided by the quantity of output produced; represents the per unit cost of production.
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