Choose the One Alternative That Best Completes the Statement or Answers

question 394

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
-The logistic growth function $\mathrm { f } ( \mathrm { t } ) = \frac { 50,000 } { 1 + 2,499.0 \mathrm { e } ^ { - 1.9 t } }$ models the number of people who have become ill with a particular infection $t$ weeks after its initial outbreak in a particular community. How many people became ill with this infection when the epidemic began?

• A) 20 people
• B) 2,500 people
• C) 50,000 people
• D) 2,499 people

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Definitions:

Average Variable Cost

A firm’s total variable cost divided by output (the quantity of product produced).

Economies of Scale

The cost advantages that enterprises obtain due to the size, output, or scale of their operation, with costs per unit of output generally decreasing with increasing scale.

Long-Run Average Cost

The per unit cost of production when all factors of production are variable, typically representing the most efficient level of production over time.

Average Fixed Cost

It measures the fixed expenses per unit of production, highlighting efficiency gains as production scales up, typically declining as output expands.