Examlex
The direct exchange of one good or service for another is called
AVC
stands for Average Variable Cost, which is the total variable cost divided by the quantity of output produced.
MC
Marginal Cost, the increase in total cost that arises from producing one additional unit of a good or service.
AVC
Average Variable Cost, the variable cost per unit of output.
Law Of Diminishing Returns
An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if all other variables remain at a constant.
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