The _____ Cost Curve Continually Declines as More Output Is

question 314

Multiple Choice

The _____ cost curve continually declines as more output is produced in the short run.

• A)marginal
• B)average variable
• C)average fixed
• D)average total

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Definitions:

Adequacy

The sufficiency of something in meeting a specific need or standard, often evaluated in terms of quality or quantity.

Consideration

The value promised to be transferred in a contract, making it legally binding.

Endorse

To give one's public approval or support to someone or something, or to sign a document thus validating it.

Bill of Exchange

A written, unconditional order by one party directing another party to pay a specified sum of money to a third party on demand or at a set date.