Match the following terms to their definitions from the text.

\ftotal cost divided by the quantity of output cost of the fixed inputs: expenditure that a firm must make before production starts and that does not change regardless of the production level factors of production that a firm can easily increase or decrease in a short period of time the long-run average cost of producing output increases as total output increases change in a firm's output when it employees more labor; mathematically. MP=TPIL the sum of xed and yariaple costs of production prot divided by the quantity of output produced; also known as prot margin