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When David First Moved to Austin,he Had to Rely on the GPS

question 161

Multiple Choice

When David first moved to Austin,he had to rely on the GPS in his car.Over time,David found that he could navigate the city without using his GPS because he knew information about sections of the city and had a rough idea of its shape.David must have developed a _____ of the city.


Definitions:

Average Variable Cost

The total variable costs (costs that change with output level) of production divided by the quantity of output produced.

Fixed Costs

Fixed costs are business expenses that remain unchanged regardless of the level of goods or services produced, such as rent, salaries, and insurance premiums.

Variable Cost

Costs that vary directly with the level of production or sales, such as raw materials and labor expenses.

Steel

An alloy of iron and carbon, and sometimes other elements, known for its high tensile strength and ability to be shaped into various forms.

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