Average Fixed Cost

question 180

Multiple Choice

Average fixed cost

• A)is greater at lower levels of output than at higher levels.
• B)does not change as output changes.
• C)exists only in the short run.
• D)is usually greater at higher levels of output than at lower levels of output.
• E)a and c

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Definitions:

Extrinsic Rewards

Benefits provided by an employer or an external environment that motivate individuals, such as money, promotions, and praise.

Equitable

Fair or impartial treatment, ensuring equality and fairness within procedures, processes, or distribution.

Individual Needs

The specific physical or psychological desires or necessities of a person that motivate behavior towards their fulfillment.

Psychological State

A person's mental and emotional condition at a given time, influenced by various factors such as environment, genetics, and personal experiences.