Currently, the Number of Years Required for the World's Population

question 13

Multiple Choice

Currently, the number of years required for the world's population to double is approximately:

• A) 53 years.
• B) 73 years.
• C) 43 years.
• D) 13 years.
• E) 93 years.

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Definitions:

Marginal Costs

The expense associated with manufacturing an extra unit of a product or service.

TVC

The total expenses a firm incurs that increase or decrease with the level of output, essentially another term for total variable costs with a rephrased definition.

AVC

Average Variable Cost, which is the total variable costs divided by the quantity of output produced, reflecting the variable cost per unit.

MC

Marginal Cost, the increase or decrease in the total cost of a production run for making one additional unit of an item.