Examlex
What is marketing analytics software and what is it used for?
AFC
Average fixed cost, or the total fixed costs divided by the quantity of output produced, indicating how fixed costs per unit change with production levels.
MC
The additional cost incurred for producing one more unit of a good or service; it's synonymous with marginal cost.
Marginal Cost
is defined as the increase in total production cost that arises from producing an additional unit of a good or service.
TVC
Total Variable Costs, which are the sum of expenses that vary directly with the level of production or business activity.
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