-The Above Table Gives Data on Two Variables

question 148

Multiple Choice

$$\begin{array} { | l | l | } \hline \begin{array} { l } x \text {-variable } \\\text { (on the horizontal } \\\text { axis) }\end{array} & \begin{array} { l } y \text {-variable } \\\text { (on the vertic al axis) }\end{array} \\\hline 8 & 14 \\\hline 10 & 18 \\\hline 12 & 22 \\\hline\end{array}$$
-The above table gives data on two variables. If these data were graphed, their relationship would

• A) be a curved line.
• B) nonexistent.
• C) be a straight line.
• D) show a negative relationship.

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Definitions:

AVC (Average Variable Cost)

The cost of labor, materials, and other variable expenses divided by the quantity of output produced, excluding fixed costs.

AFC (Average Fixed Cost)

The fixed costs (expenses that do not change with the level of production) divided by the quantity of goods or services produced, typically decreasing as production increases.

Marginal Cost

The cost increase that comes with producing an additional unit of a product or service.

Marginal Revenue

The heightened income realized from the sale of one more unit of a good or service.