Examlex
Which of the following is not an essential element in the formation of an express trust?
Average Total Cost
The cost of producing one unit, calculated by dividing the entire production cost by the quantity of units made.
Average Variable Cost
The variable cost of production (costs that change with the level of output) divided by the number of units produced, showing the variable cost per unit.
Marginal Cost
The extra expense associated with manufacturing an additional unit of a product or service.
Average Fixed Cost
The fixed cost divided by the quantity of output, representing the fixed cost per unit of output.
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