Examlex
Which Senate position is mentioned in the Constitution but currently wields little real power, so it is often held by the most senior member of the majority party?
Marginal Cost
Marginal cost refers to the expense of producing one additional unit of a product or service, indicating the efficiency of production processes.
Average Variable Cost
Average variable cost is the total variable costs of production divided by the number of units produced, indicating the average cost of producing each unit excluding fixed costs.
Average Total Cost
The total cost of production divided by the total quantity produced, indicating the cost per unit of output.
Marginal Cost
A measure of the expense associated with manufacturing an additional item of a particular good.
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