When the Output Elasticity of Total Cost Is Less Than

question 82

Multiple Choice

When the output elasticity of total cost is less than one,

• A)Marginal cost is less than average cost and average cost decreases as Q increases.
• B)Marginal cost is less than average cost and average cost increases as Q increases.
• C)Marginal cost is greater than average cost and average cost decreases as Q increases.
• D)Marginal cost is greater than average cost and average cost increases as Q increases.

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Definitions:

Whisk Ferns

Primitive, seedless vascular plants belonging to the genus Psilotum, characterized by their simple, whisk-like appearance without true leaves or roots.

Dichotomous Branching

A form of plant or fungal growth where branches repeatedly divide into two parts, leading to a 'Y'-shaped pattern.

Xylem

The vascular tissue in plants responsible for the conduction of water and nutrients from the roots to the rest of the plant.

Dissolved Sugars

Dissolved sugars are sugar molecules that have been dissolved in a liquid, forming a solution commonly important in both biological processes and food science.