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vanessa Maldonado
on Dec 19, 2024

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In the short run it is impossible for an expansion of output to increase

A) average total cost.
B) average fixed cost.
C) marginal cost.
D) average variable cost.

Average Total Cost

The total costs of production divided by the total output, giving the cost per unit of output calculated by adding fixed and variable costs and dividing by the number of units produced.

Fixed Cost

Costs that do not fluctuate with the level of production or sales, such as rent, salaries, and insurance premiums, remaining constant regardless of the output level.

Marginal Cost

The expense incurred from the production of an extra unit of a product or service.

  • Understand how variations in variable and fixed costs affect average variable cost, average total cost, and marginal cost.
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KC
Karina CainesDec 24, 2024
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