The Setting of an Optical Instrument Prior to Testing Controls

question 18

Multiple Choice

The setting of an optical instrument prior to testing controls and specimens is required by the manufacturer and is called:

• A) quality control.
• B) assay.
• C) calibration.
• D) proficiency labeling.

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Definitions:

Marginal Cost

The additional cost incurred by producing one more unit of a product or service, used in determining optimal production levels.

Short-Run Capacity

Refers to the maximum output a firm can produce under a given set of fixed and variable inputs within a short period.

Average Variable Cost

Average variable cost is the total variable cost divided by the quantity of output, showing the cost of producing one more unit of a good.

Marginal Product

The additional output produced by using one more unit of a given input, holding all other inputs constant.