Public Schools in the United States Get Most of Their

question 4

Multiple Choice

Public schools in the United States get most of their operating funds from

• A)government production and subsidies.
• B)income taxes on corporate profits.
• C)local property taxes.
• D)tariffs collected on imported goods.

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Definitions:

Average Total Cost

A rephrased definition: The per unit production cost calculated by dividing the sum of all production costs by the quantity of output produced.

Variable Cost

Costs that change in proportion to the level of output or activity of a business.

Fixed Costs

Expenses that do not change with the amount of goods or services produced, such as rent or salaries.

Marginal Costs

Refers to the cost added by producing one extra item of a product, emphasizing its role in decision making regarding production levels.