Examlex
A geographic information system contains
Output
The total amount of goods and services produced by an economic entity in a specific period.
Total Cost
The sum of all costs involved in producing a given level of output, including both fixed and variable costs.
Minimum Point
The lowest point on a curve, often referring to the lowest point of costs or output in economic models.
Average Variable Cost
The cost per unit of output, excluding fixed costs, calculated by dividing total variable costs by the number of units produced.
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