Which of the Following Formulas Is Not Correct

question 92

Multiple Choice

Which of the following formulas is not correct?

• A)ATC = AVC + (TFC/Q)
• B)TVC = TC/Q
• C)TC = TFC + TVC
• D)AFC = TFC/Q
• E)TVC = AVC × Q

Identify the economic roles of profits and losses in resource reallocation and market responses.

Understand the benefits and limitations of barter and the importance of money in facilitating trade and specialization.

Comprehend the impact of market failures on the economy and the potential role of government intervention.

Analyze the dynamic nature of consumer preferences and its impact on industry profitability and resource allocation.

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Definitions:

Consumer Price Index

An indicator that measures the average change over time in the prices paid by consumers for a basket of goods and services.

Base Year

A specific year against which economic growth or other economic indicators are measured, serving as a comparison for subsequent years' data.

Unemployed

Individuals who are actively seeking employment but are unable to find work.

Construction Worker

An individual who works in the construction industry, engaging in physical labor to build, maintain, or repair buildings, roads, and other structures.