When the Authors of Our Textbook Say That Astronomers Are

question 11

Multiple Choice

When the authors of our textbook say that astronomers are like police detectives trying to solve crimes, they are explaining that:

• A) Both astronomers and detectives work for the government
• B) Both astronomers and detectives turn out to be wrong much of the time
• C) Both astronomers and detectives must test their hypotheses against any evidence that they gather
• D) Both astronomers and detectives mostly work at night
• E) Both astronomers and detectives use expensive equipment

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Definitions:

AVC

Average Variable Cost, the total variable costs (labor, materials, etc.) divided by the quantity of output produced, illustrating how variable costs change with the level of output.

Shutdown Point

The point where a firm's revenue is not enough to cover its variable costs, leading to a decision to cease production temporarily.

Short Run

In economics, a period during which at least one input, like factory size or machinery, is fixed and cannot be changed, as opposed to the long run where all factors can be varied.

Long Run

A period in economic analysis where all inputs can be adjusted and there are no fixed factors of production.