Examlex
What is the importance of ethical behavior among managers in an organization?
Output
The total amount of goods or services produced by a company or economy.
Total Cost
The total expense incurred in the production of goods or services, including both fixed and variable costs.
Average Fixed Cost
The total fixed costs of production divided by the quantity of output produced.
Marginal Cost
The change in total production cost that arises when the quantity produced is incremented by one unit.
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