Examlex
Which term(s) refer(s) to bacterial morphology?
ATC
Average Total Cost, which is the total cost of production divided by the quantity of output produced.
AVC
Average Variable Cost; the per unit variable cost associated with producing a good or service.
AFC
Average Fixed Cost; the total fixed costs of production divided by the quantity of output produced, illustrating how fixed costs spread out over produced units.
Short Run
A period in which at least one input in the production process is fixed, limiting the ability to change production levels significantly.
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