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If P(B) > 0 and events A and B are independent,then:
Average Fixed Costs
The total fixed expenses of a business divided by the quantity of units produced, decreasing as production increases.
Variable Costs
Variable Costs are expenses that change in direct proportion to the volume of output or activity in a business, such as materials and labor.
Average Fixed Costs
The fixed costs of production (costs that do not change with the level of output) divided by the quantity produced.
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