Examlex
Identification
-Thomas More
Total Variable Cost
The total of all variable expenses which change with the level of output.
Economic Consultant
A professional who provides expert advice on economic matters, including analysis, forecasting, and policy recommendations.
Marginal Cost
Marginal Cost is the cost of producing one additional unit of a good.
Average Variable Cost
The cost of labor and materials divided by the total output, representing the variable costs per unit of output.
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