Average Variable Cost Equals

question 70

Multiple Choice

Average variable cost equals

• A)average total cost plus average fixed cost.
• B)total variable cost divided by the change in output.
• C)total variable cost divided by output.
• D)price of the variable input times the quantity of the variable input.

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Definitions:

Sale

A contract in which ownership of goods is transferred by the seller to the buyer for a price.

Title

Legal ownership of property, especially real estate or automobiles.

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Agreements that are made verbally and are legally binding, though harder to prove than written contracts.

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A document that records and verifies specific details of an agreement or transaction between two or more parties.