The __________ the Number of Confounding Factors That Can Be

question 18

Essay

The __________ the number of confounding factors that can be ruled out, the __________ convincing the evidence for a causal connection.

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Definitions:

Average Fixed Cost

The fixed costs (costs that do not vary with output) divided by the quantity of output produced.

Marginal Cost

The expense addition due to the manufacture of one more product or service unit.

Average Variable Cost

The total variable costs (e.g., materials, labor) divided by the quantity of output produced, representing the variable cost per unit.

Marginal Cost

The hike in cost associated with the creation of an extra unit of a good or service.