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Average Total Cost
Average total cost is the total cost of production (fixed plus variable costs) divided by the total quantity produced, indicative of the cost per unit at different levels of output.
Average Variable Cost
The total variable cost per unit of output, found by dividing total variable costs by the quantity of output produced.
Fixed Cost
Costs that do not vary with the level of production or sales, such as rent, salaries, or insurance premiums.
Eyeglasses
Corrective or protective lenses mounted in a frame to aid vision or protect the eyes.
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