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How did the cleavages between small states and large states and between slave states and nonslave states shape the institutional design of the Constitution?
Break-even Point
The point at which total cost and total revenue are equal, meaning there is no profit or loss.
Average Total Cost (ATC)
Total cost divided by output.
Average Variable Cost (AVC)
Variable cost divided by output.
Average Total Cost
The total cost of production divided by the quantity produced, indicating the average cost per unit of output.
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