Application of Skills Directions

question 1

Multiple Choice

Application of Skills Directions:
Apply the knowledge you have gained from Chapter 25 to answer the following questions.
Which of the following sentences uses the hyphen correctly?

• A) My mother in law continues to insist that she is only thirty-three years old.
• B) My mother in law continues to insist that she is only thirty three years old.
• C) My mother-in-law continues to insist that she is only thirty three years old.
• D) My mother-in-law continues to insist that she is only thirty-three years old.

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Definitions:

Shut Down

This term refers to a short-term decision made by a firm to cease operations when the market price falls below the minimum average variable cost.

Scale of Production

Refers to the level at which production activities are aggregated or expanded, affecting the unit costs and capability of the production process.

Lower

To decrease in position, value, or condition.

Average Total Cost

The total cost of production divided by the number of units produced, encompassing both fixed and variable costs.