Average Total Cost Is the Ratio Of

question 92

Multiple Choice

Average total cost is the ratio of:

• A) total cost to the marginal cost.
• B) total cost to the quantity of output.
• C) total cost to the amount of variable input.
• D) marginal cost to the amount of variable input.

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Definitions:

Enforceable Contract

A legal agreement between parties that is valid and recognized by the law, allowing for it to be enforced in a court of law.

Accord And Satisfaction

An agreement between two parties where a dispute is settled by agreeing on a less than what is owed, and the performance of the agreement fully satisfies the debt.

Latent Injury

An injury that is not immediately apparent and may become manifest only after some time has passed.

Legal Claim

A right to seek a legal remedy or defense as a result of the violation of one's rights by another party.