Examlex
Pandits are learned ______.
Average Cost
The total cost of production divided by the number of units produced, representing the cost per unit.
Total Cost
The complete sum of all expenses incurred in the production and delivery of goods or services.
Marginal Cost
The additional expense faced by a business when its production volume is increased by a single unit.
Total Variable Cost
The aggregate of costs that vary in relation to the volume of output or activity, such as materials and labor expenses.
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