MATCHING Identify the Letter of the Choice That Best Matches the the Phrase

question 29

Multiple Choice

MATCHING
Identify the letter of the choice that best matches the phrase or definition.
-Searches down the first column of the lookup table

• A)SUMIF
• B)VLOOKUP
• C)COUNTIF
• D)conditional formatting
• E)DATEDIF
• F)AVERAGE
• G)HLOOKUP
• H)TRANSPOSE
• I)logical condition
• J)SUM

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Definitions:

Average Variable Cost

The total variable cost divided by the quantity of output produced, representing the cost of producing one additional unit of goods.

Shutdown Point

The level of output and price at which a firm's revenue just covers its variable costs, below which it would be better for the firm to cease operations.

ATC Curve

Represents the average total cost of producing a good or service, calculated by dividing total cost by the quantity produced, and typically displayed as a graph.

AVC Curve

The Average Variable Cost curve, which graphs the per unit variable costs of production against the quantity of output.