Examlex
The only voluntary activity of the GI tract is swallowing.
Average Cost
The total cost divided by the number of goods produced, also known as cost per unit.
Total-Cost Curve
A graph that shows the relationship between the total cost incurred by a firm and the level of output produced.
Production Function
An equation or graph showing the maximum output that can be produced with a given set of inputs, such as labor and capital, under existing technology.
Marginal Product
Enhanced output originating from the inclusion of an additional input unit.
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