Rank the following claims of an organization filing Chapter 7 bankruptcy from 1 to 4 based on the following classifications.Each classification may be used more than once.
Definitions:
Marginal Cost
The extra expense associated with manufacturing an additional unit of a product or service.
ATC
Average Total Cost, which is the sum of all production costs divided by the quantity of output produced.
Short Run
A period in which at least one input is fixed and firms cannot adjust all inputs to production.
ATC
Average Total Cost; the total cost of production divided by the quantity of output produced.
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