When a Caterer Produces 30 Catered Meals,its Marginal Cost and Average

question 219

Multiple Choice

When a caterer produces 30 catered meals,its marginal cost and average variable cost each equal $10.Therefore,assuming normally shaped cost curves,at 29 meals its marginal cost is _____ $10 and its average variable cost is _____ $10.

• A)greater than;less than
• B)less than;greater than
• C)greater than;greater than
• D)equal to;equal to

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Definitions:

Gains

The positive progress or improvement in skills, abilities, or achievements.

Perceptual Constancy

The psychological phenomenon where people perceive sensory information as stable and unchanging despite variations in the physical stimuli.

Door

A movable barrier used to open and close the entrance to a building, room, or vehicle.

Shape

The form or external appearance of an object or figure, defined by its outline or contour.