-Refer to the Graph Above

question 75

Multiple Choice

-Refer to the graph above.The line segment OC represents

• A) the average variable cost of producing output level Q*.
• B) the average total cost of producing output level Q*.
• C) the marginal cost of producing the last unit of output,when total output is equal to Q*.
• D) the total cost of producing output level Q*.
• E) the average fixed cost of producing output level Q*.

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Definitions:

Denominator

The bottom part of a fraction that tells into how many equal parts the whole is divided.

Simplify

To simplify a mathematical expression to its most basic form.

Expression

A mathematical phrase that can include numbers, variables, and operation symbols but does not have an equality sign.

Rationalize

The process of eliminating radicals from the denominator of a fraction or complex numbers from the denominator.