The Vertical Distance Between a Firm's Total Cost (TC) and Its

question 88

Multiple Choice

The vertical distance between a firm's total cost (TC) and its total variable cost (TVC) curves

• A) decreases as output decreases.
• B) is equal to the average variable cost, AVC.
• C) is equal to the total fixed cost, TFC.
• D) is equal to the marginal cost, MC.

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Definitions:

Automated Teller Machines

Electronic banking outlets that allow customers to complete transactions without the need for a branch representative.

Direct Deposits

Direct Deposits involve the electronic transfer of a payment directly from the account of the payer to the recipient's account, commonly used for payroll or benefit disbursements.

Float Time

The period between when a bank check is written and when it is actually withdrawn from the payer's account, typically used to advantage cash flow.

Unauthorized Payment

A transaction made without the consent or authorization of the account holder.