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Explain balanced and restorative justice (BARJ).Do you agree or disagree that justice is best served when the victim, community and offender are viewed as equal clients of the justice system? Why or why not?
Average Variable Cost
The per-unit variable cost of production, calculated by dividing total variable costs by the quantity of output produced.
Average Total Cost
The total cost of production (fixed plus variable costs) divided by the total quantity of output produced, representing the per unit cost of production.
Price-taker Market
is a market condition where individual sellers or buyers have no control over the price of a product, typically due to the product being homogeneous and market participants being numerous.
Market Demand Curve
A graphical representation that illustrates the total quantity of a particular good or service that consumers in a market are willing to buy at various prices.
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