Examlex
Complete the following using the terms listed.
-___ refers to businesses giving back to the communities in which they earn profits.
Marginal Cost
The cost associated with producing an additional unit of output, emphasizing the concept of incremental expense in production processes.
Average Cost
The total cost of production divided by the number of units produced, also called unit cost.
Fixed Cost
Costs that do not change with the level of output produced, such as rent, salaries, or loan payments.
Marginal Cost
Marginal Cost is the change in total cost that arises when the quantity produced is incremented by one unit; it is the cost of producing one more unit of a good.
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