The Text Explores the Concept of Consumer Behavior from Two

question 52

Multiple Choice

The text explores the concept of consumer behavior from two perspectives.These two perspectives are .

• A)psychological and social
• B)formal and informal
• C)local and global
• D)economic and political

---

Definitions:

Average Variable Costs

The total variable costs of production divided by the number of units produced, highlighting how variable costs change with output levels.

Average Total Costs

The total cost of production divided by the total quantity produced, representing the average cost per unit.

Total Fixed Costs

The sum of all costs associated with the production of goods or services that do not change with the level of output, such as rent, salaries, and equipment maintenance.

Fixed Costs

Fixed costs are business expenses that remain constant irrespective of the level of goods or services produced, such as rent, salaries, or loan payments.