Examlex
Which of the following organizations issue international ethics standards for auditors?
Average Fixed Cost
The fixed costs of production divided by the quantity of output produced, typically decreasing as production increases.
Average Variable Cost
The total variable costs of production divided by the quantity of output produced, indicating the cost of producing one more unit of a good or service.
ATC
The average total cost is defined as the total production cost divided by the quantity of produced output.
AVC
Average Variable Cost, which is the cost of labor, materials, or overhead that changes according to the level of production output.
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