Use the Following Table to Answer the Question

question 22

Multiple Choice

Use the following table to answer the question. At an output of 4, the average fixed cost is $____.

• A) 600
• B) 533.33
• C) 475
• D) 250

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Definitions:

Presentment For Payment

The act of formally presenting a financial instrument, such as a check or draft, for payment to the party responsible.

Charge An Indorser

The act of seeking payment from the endorser of a negotiable instrument when the primary party responsible for payment defaults or fails to pay.

Unauthorized Signature

A signature on a document made by someone not authorized by the person or entity purported to be signing, potentially leading to legal non-recognition of the document.

Ratified

Ratified means formally approved or confirmed, often in the context of agreements, contracts, or legislative actions.