Express in Milli, Basic Units, and Micro

question 3

Multiple Choice

Express in milli, basic units, and micro.

• A)560 milli, 5.600, 5600 micro
• B)5.6 milli, 0.056, 56000 micro
• C)5600 milli, 56, 560
• D)56 milli, 0.056, 56000 micro

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Definitions:

Fixed Cost

A cost that does not change with an increase or decrease in the amount of goods or services produced.

Variable Cost

A cost that changes with the level of output or production.

Average Variable Cost

The total variable cost divided by the quantity of output produced, representing the variable cost per unit of output.

Marginal Costs

refers to the cost associated with producing each additional unit of a product or service.