Examlex
____________ systems utilize hundreds or thousands of CPUs working together.
Average Variable Cost
The total variable cost divided by the number of units produced, representing the variable cost per unit of output.
Purely Competitive Market
A market structure characterized by a large number of sellers offering identical products, where no single seller can influence the market price.
Average Fixed Cost
The costs in production that remain constant regardless of output level, when divided by the produced output quantity.
Economic Profit
The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, representing the excess over the firm's opportunity costs.
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