Average Total Cost Is Equal to

question 168

Multiple Choice

Average total cost is equal to

• A)output/total cost.
• B)total cost - total quantity of output.
• C)average variable cost + total fixed cost.
• D)total cost/output.

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Definitions:

Opportunity Cost

The concept of opportunity cost represents the benefits a person or business misses out on when choosing one alternative over another.

Speculative Motive

The desire to hold cash or assets in anticipation of making gains based on future price movements.

Economic Conditions

The state of a country's economy, including factors like unemployment, inflation, and GDP growth.

Gold Reserves

The amount of gold held by a central bank or government to support the value of its currency and to settle debts or engage in trade.