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Output Units
The individual items or quantities of a product that are produced by a company or an economic production process.
Total Variable Cost
The total of expenses that change in proportion to the activity of a business, such as materials and labor, in contrast to fixed costs.
Marginal Cost
The cost of producing one additional unit of a good, calculated by the change in total cost that comes from producing one more unit of output.
Increasing Rate
Increasing rate refers to a situation where the growth or rate of any variable, such as price, cost, or production, rises over a period.
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