Examlex
What is a budget?
ATC
Average Total Cost, which is the total cost of production divided by the quantity of output produced.
AVC
Average Variable Cost; the total variable cost divided by the quantity of output produced.
MC
MC often stands for Marginal Cost, which is the cost of producing one additional unit of a good.
ATC
Average Total Cost; the total cost of production divided by the quantity of output produced.
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