Examlex
Traditional code was written in non-procedural programming languages such as Java, which required a programmer to create a command for each processing step.
Marginal Cost
The escalation in aggregate cost that comes from generating one more unit of a product or service.
Fixed Cost
Costs that do not change with the amount of goods or services produced by a business.
Variable Cost
Costs that vary directly with the level of production or volume of output.
ATC Curve
The ATC (Average Total Cost) Curve is a graphical representation of how a firm's average total costs vary with output level, highlighting the cost efficiency of producing goods.
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