You Run a Small Business Producing Picture Frames

question 51

Multiple Choice

You run a small business producing picture frames. This month your total cost is $10,000, your variable cost is $5,000, and your output is 5,000 picture frames. Given this information, your:

• A) average variable cost is $2.
• B) average total cost is $3.
• C) average total cost is $1.
• D) average fixed cost is $1.

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Definitions:

Temporary Pleasures

Short-lived moments of enjoyment or satisfaction that do not have long-term effects on one's happiness or well-being.

Self-Improvement

The process of seeking out activities or adopting behaviors that lead to personal growth and positive change.

Id

A component of Sigmund Freud's psychoanalytic theory, representing the set of uncoordinated instinctual desires driving individuals from birth.

Temper Tantrums

Emotional outbursts, typically characterized by yelling, crying, or stomping, often exhibited by young children as a response to frustration or unmet desires.