In the Accompanying Figure, the Small Vertical Line That Is

question 6

Multiple Choice

In the accompanying figure, the small vertical line that is sticking down from the rectangular graphic is the ____.

• A)adjustment handle
• B)rotate handle
• C)Convert to SmartArt Graphic button
• D)resize handle

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Definitions:

Marginal Cost

The additional cost incurred from producing one more unit of a good or service.

Average Total Cost

A firm’s total cost divided by output (the quantity of product produced); equal to average fixed cost plus average variable cost.

Economies of Scale

Cost advantages that a business obtains due to expansion, leading to a reduction in the average cost per unit through increased production.

Diseconomies of Scale

The situation in which a business grows to a point where the costs per unit increase, opposed to saving costs, often due to managerial inefficiencies or complexity.