If Events a and B Cannot Occur at the Same

question 210

True/False

If events A and B cannot occur at the same time,they are called mutually exclusive.

---

Definitions:

Marginal Cost

The cost of producing an additional unit of a good or service.

Average Total Cost

Represents the per-unit total cost of production, calculated by dividing the total cost by the total quantity produced.

Falling

The process or action of moving downwards, typically used in economics to describe a decrease in prices or values.

Short Run

In economics, the short run refers to a period during which at least one of a firm's inputs cannot be changed, limiting its capacity to adjust to demand changes.