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Each of the following sentences tells what you are trying to persuade someone to do. Beneath each sentence are four reasons that attempt to convince the reader that he or she should take this particular course of action. Select the reason that seems irrelevant, illogical, or untrue. If you wanted to convince someone that the school day should be lengthened, you could say that
Average Total Cost
The total cost to produce a given quantity of output divided by the quantity of output produced; it includes all opportunity costs.
Diminishing Marginal Returns
Refers to a point in production where adding an additional factor of production results in a smaller increase in output.
Average Variable Costs
The total variable costs divided by the quantity of output produced, reflecting the average cost of producing each unit.
Average Fixed Costs
Costs in production that are stable and do not vary with the amount of output, divided by the quantity of goods produced.
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