Which of the Following Is Characteristic of an Object That

question 52

Multiple Choice

Which of the following is characteristic of an object that is black in colour?

• A) It does not absorb any wavelength.
• B) It absorbs all wavelengths.
• C) It reflects some wavelengths, but not all.
• D) It reflects all wavelengths.

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Definitions:

ATC

Average Total Cost; the total cost of production divided by the quantity of output produced.

AVC

Average Variable Cost, which is the total variable cost divided by the quantity of output produced. It represents the variable cost per unit of output.

MC

Marginal Cost, which refers to the increase in total production cost that arises from producing one additional unit of a good or service.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs like opportunity costs.