-In Figure 21

question 6

Multiple Choice

-In Figure 21.4,the long-run average total cost curve is given by the curved line segment

• A)ACE.
• B)ABFDGE.
• C)ABF only.

---

Definitions:

Discounted Note

A promissory note or loan that is sold or issued at a price lower than its face value, with the difference serving as interest earned by the lender.

Interest Charged

The cost incurred by borrowing money, calculated as a percentage of the principal amount loaned.

Discounted Note

A financial instrument representing a promise to pay, which is sold for less than its face value before maturity.

Note Proceeds

The amount of money generated from issuing a note payable, which is a written promise to pay a specified sum of money at a future date.