Examlex
A minor can disaffirm a contract made for _____.
AVC
Average Variable Cost, which is the variable cost per unit of output.
Marginal Cost
The production cost for one more unit of a product.
Average Total Cost
The total cost of production divided by the number of units produced, representing the per-unit cost of production.
Perfectly Competitive
A market structure where there are many buyers and sellers, all selling identical products, with no single entity able to influence the market price.
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