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____ Can Be Very Tiny,about the Size of a Rice

question 69

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____ can be very tiny,about the size of a rice grain,or several square inches,depending on the amount of information they need to contain and the environment in which they are used.


Definitions:

AVC

Average Variable Cost, referring to the variable cost per unit of output.

MC

An abbreviation commonly used for marginal cost, which is the cost added by producing one additional unit of a product or service.

Average Variable Cost

The variable cost per unit of output; the total variable cost divided by the number of units produced.

Economic Profit

The gap between the complete income and all expenses, covering overt and hidden costs.

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