Examlex
The business entity principle means that a business will continue operating for an indefinite period of time.
Average-Variable-Cost Curve
A graphical representation showing how the average variable cost of production changes as the quantity of output is altered.
Average Variable Cost
The sum of all costs that vary with output levels, divided by the total quantity of produced output.
Average Total Cost
The aggregate expense of manufacturing (comprising both fixed and variable expenditures) divided by the overall amount produced.
Marginal Cost
The incremental cost of producing an extra unit of a good or service.
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