Table 13-5 -Refer to Table 13-5. Assume That Fixed Costs Are $500

question 643

Multiple Choice

Table 13-5
-Refer to Table 13-5. Assume that fixed costs are $500, and variable costs are $100 per worker. For this firm, what are the shapes of the production function and the total-cost curve?

• A)Both the production function and total-cost curve are increasing at an increasing rate.
• B)Both the production function and total-cost curve are increasing at a decreasing rate.
• C)The production function is increasing at an increasing rate, whereas the total-cost function is increasing at a decreasing rate.
• D)The production function is increasing at a decreasing rate, whereas the total-cost function is increasing at an increasing rate.

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Definitions:

International Unit

A unit of measurement for the amount of a substance, based on measured biological activity or effect.

X-ray

A form of electromagnetic radiation used in medical imaging to create pictures of the inside of the body, helping diagnose, monitor, and treat many medical conditions.

Roentgen

A unit of measurement for exposure to ionizing radiation, reflecting the amount of radiation required to create one electrostatic unit of charge in one cubic centimeter of dry air.

Contrast Medium

A substance used in medical imaging to enhance the visibility of internal structures in radiographic studies.