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Predict the product(s) of the following reaction sequence:
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.
Marginal Cost
Marginal Cost is the cost incurred by producing one additional unit of a product or service.
Labor Costs
Expenses associated with employing labor, including wages, salaries, benefits, and taxes.
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