Examlex
One of the desirable skills for an entrepreneur is ________.
Marginal Cost
The increase in cost caused by producing one additional unit of a good or service.
Average Total Cost
The total cost of production divided by the quantity of output produced, encompassing both fixed and variable costs.
Average Total Cost
The total cost of production divided by the number of units produced, measuring the cost per unit of output.
Fixed Costs
Business expenses that remain constant regardless of the level of production or sales.
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