Evaluate the Expression $\left( \frac { 1 } { 4 } \right) ^ { - 1 }$

question 271

Multiple Choice

Evaluate the expression.
- $\left( \frac { 1 } { 4 } \right) ^ { - 1 }$

• A)4
• B) \(\frac { 1 } { 4 }\)
• C)-4
• D) \(- \frac { 1 } { 4 }\)

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Definitions:

Average Variable Cost

The total variable costs (costs that change with production volume) divided by the quantity of output produced.

Diminishing Marginal Returns

A principle in economics where each additional unit of input results in a smaller increase in output than the previous unit, at a certain point.

Marginal Cost

The additional cost incurred in producing one more unit of a product, emphasizing the concept of optimizing production levels.

Average Total Cost

The total cost per unit of output, calculated by dividing the total cost of production by the total quantity produced.