Examlex
A central feature of community policing for many departments is problem-oriented policing.
Average Variable Cost
The total variable costs of production divided by the quantity of output produced, illustrating the per-unit variable cost.
Total Cost
The sum of all expenses incurred in the production of goods or services, including fixed and variable costs.
Labor Productivity
Total output divided by the quantity of labor employed to produce it; the average product of labor or output per hour of work.
Average Total Cost Curve
A graphical representation showing how the average total cost of producing a good changes as the quantity produced varies.
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