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Assumptions that the earliest life forms had to make their own food have been replaced with the belief that the earliest microorganisms were definitely primary heterotrophs.How could these earliest cells have lived if they did not make their own food,and why do we feel certain that they were not photosynthetic?
Average Total Cost
The total cost of production divided by the number of goods produced, representing the average cost per unit of output.
Average Total Cost
The total cost of production (fixed plus variable costs) divided by the number of units produced, representing the per-unit production cost.
Marginal Cost
The monetary cost of generating one additional unit of a product or service.
Long-Run Average Cost Curve
A graphical representation showing the lowest possible cost per unit that can be achieved for any given level of production when all factors of production are variable.
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