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Write the equation of the circle graphed below.Express the equation in standard form.
Total Variable Costs
The sum of all costs that vary with output level, including materials, labor, and other expenses that change with production volume.
Techniques of Production
The methods and processes used by firms to produce goods and services efficiently.
Price of Output
The amount of money that a firm receives from the sale of goods and services it produces.
Price of Inputs
The cost associated with the resources used in the production of goods and services.
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