When a Fine Caterer Produces 30 Catered Meals, Its Marginal

question 20

Multiple Choice

When a fine caterer produces 30 catered meals, its marginal cost and average variable cost each equal $10.Therefore, assuming normally shaped cost curves, at 29 meals:

• A)its marginal cost is greater than $10 and its average variable cost is less than $10.
• B)its marginal cost is less than $10 and its average variable cost is more than $10.
• C)its marginal cost and its average variable cost are each greater than $10.
• D)its marginal cost and its average variable cost are each equal to $10.

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Definitions:

Vacation Time

Paid or unpaid time off work granted by employers to employees for leisure and rest.

Observed Holidays

Public or private holidays recognized and celebrated by a society, often with official status.

Performance Evaluations

Assessments of an employee's work performance, typically conducted on a regular basis to determine areas of improvement and to facilitate growth and development.

Raises

Typically refers to an increase in salary or wages provided to an employee by an employer.