Use the Following to Answer Question(s): Short-Run Costs

question 123

Multiple Choice

Use the following to answer question(s) : Short-Run Costs

-(Exhibit: Short-Run Costs) At 7 units of output, average fixed cost is approximately _______ , and average variable cost is approximately _______ .

• A) $100; $100
• B) $10; $135
• C) $40; $ 100
• D) $140; $140

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Definitions:

Organ of Corti

A structure located on the basilar membrane of the cochlea in the inner ear, responsible for the transduction of sound vibrations into electrical signals.

Cranial Nerve VIII

The vestibulocochlear nerve, responsible for hearing and balance.

Hearing

The faculty of perceiving sounds, which occurs when sound waves are converted into electrical signals and interpreted by the brain.

Middle Ear

The section of the ear between the eardrum and the oval window, containing the three auditory ossicles that transmit sound.