Exhibit 21-3 Refer to Exhibit 21-3

question 121

Multiple Choice

Exhibit 21-3 Refer to Exhibit 21-3. What level of output exhibits the lowest average total cost?

• A)10 units
• B)25 units
• C)45 units
• D)60 units
• E)70 units

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Definitions:

Output

The total amount of goods or services produced by a business, industry, or country over a specific period of time.

Paralegals

Professionally trained individuals who assist lawyers in preparing cases, conducting legal research, and completing other substantive legal work, but are not licensed to practice law.

Corporations

Entities recognized by law as separate from their owners with rights to enter into contracts, sue, and be sued.

Billable Hours

Hours or fractions of hours that attorneys and paralegals spend in work that requires legal expertise and that can be billed directly to clients.