Average Total Cost Is Very High When a Small Amount

question 211

Multiple Choice

Average total cost is very high when a small amount of output is produced because

• A)average variable cost is high.
• B)average fixed cost is high.
• C)marginal cost is high.
• D)marginal product is high.

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Definitions:

Stavelot Reliquary

An elaborately decorated container from Stavelot, Belgium, intended to house and display religious relics, notable for its craftsmanship and artistic merit.

Saint Alexander

Refers to several Christian saints named Alexander, recognized and venerated in various Christian denominations.

John the Baptist

A Jewish preacher and prophet in the early 1st century, known for baptizing Jesus Christ and recognized as a significant figure in Christianity, Islam, and other religions.

Santa María

The largest of the three ships used by Christopher Columbus on his first voyage across the Atlantic Ocean in 1492.