Average Total Cost

question 41

Multiple Choice

Average total cost:

• A)is the sum of average fixed costs and average variable costs.
• B)is total cost divided by total output.
• C)is minimized when it equals marginal cost.
• D)All of these are correct.

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Definitions:

Contingency

An upcoming occurrence or condition that has the potential to happen but whose certainty cannot be guaranteed.

Disjunct

A component proposition or statement within a disjunction that, by itself, could be true or false.

Disjunction

A logical operation that results in true if at least one of its component statements is true.

Self-Contradiction

A statement or proposition that inherently contradicts itself, making it logically impossible.