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Labor
The effort involving both bodily and intellectual activities applied in generating goods and services.
AVC
Average Variable Cost, the total variable cost divided by the quantity of output produced.
AFC
Average fixed cost, or the total fixed costs divided by the quantity of output produced, indicating how fixed costs per unit change with production levels.
MC
The additional cost incurred for producing one more unit of a good or service; it's synonymous with marginal cost.
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