An assay is an investigative (analytic) procedure in laboratory medicine, pharmacology, environmental biology and molecular biology for qualitatively assessing or quantitatively measuring the presence or amount or the functional activity of a target entity (the analyte). Qualitative assay, i.e. assays which generally give just a pass or fail, or positive or negative or some such sort of only small number of qualitative gradation rather than an exact quantity.
The average fixed cost (AFC) curve will decline as additional units are produced, and continue to decline. The average total cost (ATC) curve initially will decline as fixed costs are spread over a larger number of units, but will go up as marginal costs increase due to the law of diminishing returns.
Total Cost = Total Fixed Cost + Total Variable Cost + Opportunity Cost. Definition Average cost is equal to total cost divided by the number of goods produced (the output quantity, Q). It is also equal to the sum of average variable costs (total variable cost divided by Q) plus average fixed costs (total fixed costs divided by Q).