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Which answer reflects (in this order) a good, a service, and an idea that can be marketed?
Average Variable Cost
Average variable cost is the total variable cost of production divided by the number of units produced, indicating the variable cost per unit.
Average Variable Cost
The total variable costs (costs that change with production volume) divided by the number of units produced.
Average Product of Labor
The output produced, on average, by one unit of labor, such as one worker or one hour of work.
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