Which of the Following Statements Is FALSE

question 48

Multiple Choice

Which of the following statements is FALSE?

• A)Excel 2010 workbooks have xls as their file extension.
• B)Spreadsheets are commonly used to perform what-if analysis.
• C)A spreadsheet is a powerful computer program.
• D)Spreadsheets are a grid of rows and columns.

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Definitions:

Short-Run Average Total Cost

Short-run average total cost is the total cost of production (fixed and variable costs) divided by the total output produced, calculated when at least one factor of production is fixed.

Economies

The large set of interrelated production and consumption activities that aid in determining how scarce resources are allocated.

Diseconomies

Circumstances where increasing the scale of production leads to higher per-unit costs, often due to inefficiencies gained at larger scales.

Average Total Costs

The average cost per unit is calculated by dividing the entire production cost by the quantity of units produced.