Examlex
What are the two factors that all successful quality programs have?
Average Variable Cost
The total variable costs divided by the quantity of output produced; it fluctuates with changes in output.
Marginal Cost
The increase or decrease in the total cost that arises from producing one additional unit of a good or service.
Average Variable Cost
The per-unit variable cost, found by dividing the total variable expenses by the amount of output generated.
Marginal Cost
The cost of producing one additional unit of a good or service, which is used in decision-making about output levels.
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