Examlex
Initial treatment for tetanus in an unimmunized person with a puncture wound is
Marginal Cost
The outgoings associated with the production of one more unit of a product or service.
Average Variable Cost
The total variable costs divided by the quantity of output produced; it varies with the level of output.
Long-Run Average Total Cost Curve
A graphical representation showing the relationship between output and average total cost when fixed cost has been chosen to minimize average total cost for each level of output.
Minimum
The lowest allowable or possible amount, level, or point.
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