Examlex
Several of the major risk factors for CHD can be modified by diet and lifestyle.
Average Variable Cost
The per unit cost of production excluding fixed costs, calculated by dividing the total variable costs by the quantity of output produced.
Short-Run Production
The period in which at least one input or factor of production is fixed, allowing firms to adjust only certain inputs to change output levels.
Average Total Cost
The total cost of production (fixed and variable costs) divided by the total quantity of output produced.
Marginal Cost
The additional cost incurred in the production of one extra unit of a good or service.
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