Examlex
Net exports of goods and services equal the
Total Costs
The complete sum of all expenses incurred by a business in producing goods or services, including fixed and variable costs.
Output
The total amount of goods or services produced by a company, individual, or process within a given time frame.
MC
MC, or Marginal Costs, refers to the cost associated with producing an additional unit of a good or service, highlighting the incremental expense of production expansion.
AC
Typically refers to Air Conditioning, a system used for cooling and sometimes heating depending on the air properties needed.
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