In 1960, the Average Household Size Was _____ People, and in 2019

question 36

Multiple Choice

In 1960, the average household size was _____ people, and in 2019 it was _____

• A) 4.0 ; 1.8.
• B) 3.0 ; 6.0.
• C) 5.5 ; 4.2.
• D) 3.3 ; 2.5.

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Definitions:

Total Variable Cost

The sum of all variable expenses that are incurred in the direct production of goods or services.

AVC

Average Variable Cost, which is the variable cost per unit of output.

Marginal Cost

The production cost for one more unit of a product.

Average Total Cost

The total cost of production divided by the number of units produced, representing the per-unit cost of production.