Answer the Question on the Basis of the Following Cost

question 368

Multiple Choice

Answer the question on the basis of the following cost data. The average variable cost of producing 3 units of output is

• A)$8.
• B)$24.
• C)$16.
• D)$12.

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Definitions:

Prestigious University

An institution of higher education well-known for its high academic standards, distinguished faculty, and notable alumni.

Davis-Moore Thesis

A sociological proposition that argues social stratification has beneficial consequences for the operation of a society, suggesting that the most talented individuals are rewarded with the most important jobs and highest income.

Discrimination

Actions that deny or grant advantages to members of a particular group.

Market Forces

The economic factors affecting the price, demand, and availability of goods and services in a free market.