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Total Variable Costs
The complete costs that vary with output level, such as materials and labor, in the production process.
Marginal Cost
The change in total cost that arises when the quantity produced is incremented by one unit.
Total Variable Cost
The sum of all costs that vary with output level, including costs of labor, materials, and other inputs that change with the level of production.
Average Variable Cost
The variable cost per unit of output, computed by dividing total variable costs by the quantity of output produced.
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