When Marginal Cost Is Above Average Variable Cost, Average Variable

question 64

Multiple Choice

When marginal cost is above average variable cost, average variable cost must be:

• A) at its minimum.
• B) at its maximum.
• C) greater than average total cost.
• D) increasing.

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Definitions:

Equality

The state of being equal, especially in status, rights, and opportunities.

Inclusion

The practice or policy of providing equal access to opportunities and resources for people who might otherwise be excluded or marginalized.

Racism

Racism is an ideology that either directly or indirectly asserts that one group is superior to others, with the power to put this ideology into practice in a way that gives advantages, privilege, and power to certain groups of people, and conversely, can disadvantage or limit the opportunities of racialized individuals or racialized groups.

Discrimination

The unequal treatment of individuals or groups based on their characteristics or behaviours. It involves actions or practices of dominant group members that have a harmful impact on members of a subordinate group.