A Private or Civil Wrong or Injury Caused by One

question 36

Multiple Choice

A private or civil wrong or injury caused by one party to another, either intentionally or negligently is a(n) :

• A)breach of contract.
• B)criminal act.
• C)tort.
• D)act of god.

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Definitions:

TVC

Total Variable Costs, which refer to costs that change in proportion to the level of output or activity in a business.

MC

Marginal Cost refers to the additional total cost incurred from the production of one more unit of a product or service.

Marginal Costs

Marginal Costs represent the change in total cost that arises from producing one additional unit of a good or service.

Average Variable Costs

The cost per unit of variable inputs divided by the total output, indicative of the average amount spent on variable costs per unit of output produced.