Determine Whether the Statement Is True or False

question 12

Essay

Determine whether the statement is true or false. If it is true, explain why it is true. If it is false, give an example to show why it is false.
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The function is continuous for all .

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Definitions:

Average Variable Cost

The total variable costs divided by the quantity of output, representing the variable cost per unit of output.

Marginal Cost

The escalation in total financial outlay due to the creation of one more unit of a product or service.

Average Total Cost

Calculated by dividing the total cost to produce a product by the quantity of the product produced, it represents the per-unit cost of production.

Bygones

In economics, the principle of "letting bygones be bygones" implies that past costs, which cannot be recovered, should not factor into future economic decisions.