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Which type of damages are monetary payments a party who breaches a contract is ordered to pay in order to compensate the injured party for the actual harm suffered due to the breach of contract?
Average Total Cost
The total cost of production (fixed and variable costs) divided by the total output or quantity produced.
Fixed Costs
Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance payments.
Marginal Costs
Marginal costs are the change in total costs that arise when the quantity produced is incremented by one unit, essentially the cost of producing one more unit of a good.
Average Variable Costs
Costs that change with the level of output, averaged over the total number of units produced.
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