Examlex
An ideal diode acts like a switch that closes when forward-biased and opens when reverse-biased.
Supply Curve
A graphical representation showing the relationship between the price of a good or service and the quantity supplied for a given period.
Variable Costs
Costs that vary directly with the level of production or service provision, such as materials and labor.
Output
The quantity of goods or services produced by a firm or industry.
Total Variable Costs
The sum of expenses that change in proportion to the activity of a business, such as costs for raw materials and labor, which vary with production volume.
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