Examlex
How is the rotation of Earth best described?
ATC
Average Total Cost, which is the sum of all production costs divided by the quantity of output produced.
MC
Marginal Cost, the change in total production cost that comes from making or producing one additional unit.
AFC
AFC, or Average Fixed Cost, is the total fixed costs of production divided by the quantity of output produced.
Output
The total amount of goods or services produced by a company, industry, or economy within a specified period.
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