Decide Whether or Not the Events Are Mutually Exclusive

question 108

Multiple Choice

Decide whether or not the events are mutually exclusive.
-Speaking Spanish and speaking Chinese

• A)No
• B)Yes

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Definitions:

Marginal Cost

The charge incurred for the manufacturing of one more unit of a particular good or service.

Average Fixed Cost

The fixed costs of production divided by the quantity of output produced, typically decreasing as production increases.

Average Variable Cost

The total variable costs of production divided by the quantity of output produced, indicating the cost of producing one more unit of a good or service.

ATC

The average total cost is defined as the total production cost divided by the quantity of produced output.