The Numbers 9.81*10⁵ and 981,000 Are Equivalent

question 14

True/False

The numbers 9.81*10⁵ and 981,000 are equivalent.

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Definitions:

Average Total Costs

The total cost of production divided by the number of units produced, representing the average cost per unit.

Physical Capital

Tangible assets used in the production of goods and services, such as machinery, buildings, and equipment.

Short Run

A period in economics during which at least one input is fixed while others are variable.

Average Total Costs

The total cost of production divided by the quantity of output produced. It reflects the per-unit cost of production.