The Y-Intercept of the Cost Line on a Scattergraph Represents

question 113

Multiple Choice

The y-intercept of the cost line on a scattergraph represents:

• A)fixed cost per unit.
• B)total fixed cost.
• C)variable cost per unit.
• D)sales price per unit.

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Definitions:

Pareto Optimal

An allocation of resources from which it is impossible to reallocate without making at least one individual worse off.

Utility Function

A mathematical representation that captures the level of satisfaction or happiness that consumers derive from consuming goods and services.

Initial Endowment

The original distribution of resources, wealth, or abilities that individuals or groups possess in an economic model.

Pareto Optimal

A state of allocation of resources from which it is impossible to make any individual better off without making at least one individual worse off.