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Carrie Looked Over Her Key-Phrase Outline One More Time to Make

question 40

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Carrie looked over her key-phrase outline one more time to make sure that each idea in her outline could stand on its own and had the quality of being separate. This quality is called


Definitions:

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.

Marginal Cost

The price increase caused by the creation of one more unit of a product or service.

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