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Which is the major product of the following reaction? 2
Variable Costs
Charges that adjust directly in response to the quantity of production or output.
Average Total Cost
The total cost divided by the quantity of output produced, representing the cost per unit of output.
Marginal Cost
The outgoings associated with the production of one more unit of a product or service.
Average Variable Cost
The total variable costs divided by the quantity of output produced; it varies with the level of output.
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