To the Increased Production and Use of Vegetable Cooking Oils

question 47

Multiple Choice

to the increased production and use of vegetable cooking oils by food manufacturers, Americans need to consume more:

• A)omega-3 fatty acids.
• B)omega-6 fatty acids.
• C)monounsaturated fatty acids.
• D)essential fatty acids.

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Definitions:

Marginal Product

The additional output derived from the addition of one more unit of a variable input, holding all other inputs constant.

Marginal Cost

refers to the increase in cost when producing one additional unit of output.

Average Variable Costs

Refers to the total variable costs (costs that change with production levels) divided by the quantity of output produced.

Average Fixed Costs

The total fixed costs of production divided by the total quantity of output produced, illustrating how fixed costs spread over units as output increases.