Int[][] MyVals = {{2, 4, 6},                   {1, 8, 9}

question 20

Multiple Choice

int[][] myVals = {{2, 4, 6},                   {1, 8, 9},
                  {1, 3, 5, 7}};
Using the above array, what is the value of myVals[1].length ?

• A) 1
• B) 7
• C) 3
• D) 6

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Definitions:

Long-run Total Costs

The total costs incurred by a firm when all factors of production are variable, emphasizing the period where no costs are fixed.

Average-fixed-cost Curve

A curve that shows the relationship between the average fixed cost of producing a good and the quantity of the good produced, typically declining as production increases.

Marginal Product

The increase in output that results from employing one more unit of a particular input, holding all other inputs constant.

Explicit Costs

Direct, out-of-pocket expenses paid by firms for inputs to production, such as wages, rent, and materials, as opposed to implicit costs which are not directly paid out in cash.