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When the buyer is more knowledgeable than the seller,there is a(n)
Total Cost
The sum of fixed and variable costs incurred by a firm in producing and distributing a specified level of output.
Marginal Cost
The expenditure involved in fabricating one more unit of a product or service.
Average Total Cost
Average total cost is the total cost of production divided by the quantity of output produced, indicating the cost on a per-unit basis.
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