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As the level of output increases, what happens to the value of average fixed cost, and what happens to the difference between the value of average total cost and average variable cost?
Utilization Rate
Typically refers to the ratio of currently used resources to the total available resources, often used in the context of credit utilization or operational capacity.
Net Income
The total earnings or profit of a person or company after deducting all expenses and taxes.
Variable Costs
Expenses that fluctuate based on the amount of products or services a company generates.
Net Income
Net Income is the total profit of a company after all expenses and taxes have been deducted from revenue.
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