Find the Absolute Value $| - 0.003 |$ A) $0.006$ B) $- 0.003$

question 71

Multiple Choice

Find the absolute value.
- $| - 0.003 |$

• A) \(0.006\)
• B) \(- 0.003\)
• C) \(0.003\)
• D) 0

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Definitions:

Marginal Cost

The extra expense associated with manufacturing an additional unit of a product or service.

ATC

Average Total Cost, which is the sum of all production costs divided by the quantity of output produced.

Short Run

A period in which at least one input is fixed and firms cannot adjust all inputs to production.

ATC

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