Examlex
The theory stating that behaviors are motivated by an organism's attempts to reduce tension from conditions such as hunger or thirst and return the body to a state of balance is called __________ theory.
Variable Cost
Expenses that vary directly with the volume of products or services a company generates.
Total Cost
Represents the complete sum of all expenses incurred in the production of goods or services, including both fixed and variable costs.
ATC
Average Total Cost, refers to the total cost per unit of output, calculated by dividing the total cost by the quantity of output produced.
Long Run
A period of time in economics during which all factors of production and costs are variable, allowing for full adjustment to any change.
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