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Which of the following was considered a primary and key advantage to Europeans in their expansion?
Average Total Cost
The aggregate expense of manufacturing divided by the total number of units produced.
Average Fixed Cost
The fixed costs of production (costs that do not change with the level of output) divided by the quantity of output produced.
Average Variable Cost
The total variable cost per unit of output, which includes costs that change with the amount of production.
Average Total Cost
The total cost of production divided by the quantity produced, indicating the per-unit cost of production.
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