Refer to Greene Enterprises, Inc $$A V C = 88 - 0.026 Q + 0.000003 Q ^ { 2 }$$

question 35

Multiple Choice

Refer to Greene Enterprises, Inc., whose manager recently estimated its average variable cost (AVC) function to be

$$A V C = 88 - 0.026 Q + 0.000003 Q ^ { 2 }$$
Greene Enterprises faces total fixed costs (TFC) of $300,000.
-When Greene's output is 2,000 units, average variable cost (AVC) is

• A) rising
• B) falling
• C) greater than short-run marginal cost
• D) less than short-run marginal cost
• E) both b and c

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Definitions:

Endogamy

The practice of marrying within a specific social group, caste, or ethnic group, rejecting others on such a basis as being unsuitable for marriage or other close personal relationships.

Exogamy

The social norm of marrying outside one's social group, which helps to expand the social network and alliances.

Exogamy

A social arrangement where marriage is allowed only outside a social group, clan, or tribe, promoting diversity in genetic attributes and cultural practices.

Homogamy

The practice or tendency of people to marry others who share similar cultural, social, or economic backgrounds.