Use the Following Two Statements to Answer This Question: I

question 24

Multiple Choice

Use the following two statements to answer this question: I. The average total cost of a given level of output is the slope of the line from the origin to the total cost curve at that level of output.
II) The marginal cost of a given level of output is the slope of the line that is tangent to the variable cost curve at that level of output.

• A) Both I and II are true.
• B) I is true, and II is false.
• C) I is false, and II is true.
• D) Both I and II are false.

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Definitions:

Particular

In logic, refers to statements that affirm or deny something about only some members of a class of subjects.

Subalternate

In logic, a term referring to a proposition that is inferred immediately from another more general proposition.

Proposition

A statement that can either be true or false, expressing a complete thought or judgement.

Contradictory

Refers to statements that cannot both be true at the same time because they express opposite assertions.