A Firm's Cost of Variable Inputs Per Unit of Output

question 78

Multiple Choice

A firm's cost of variable inputs per unit of output is known as

• A)average total cost
• B)average fixed cost
• C)marginal cost
• D)total variable cost
• E)average variable cost

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Definitions:

Involuntarily

Occurring without the individual's conscious choice, often referring to actions or reactions that are automatic or outside personal control.

Role Set

A role set is a cluster of roles attached to a single status.

Status Group

A social group that people belong to based on factors like prestige, honor, and lifestyle, rather than solely economic or social class.

Role Cluster

A set of roles that are associated with a particular social status or position in society, typically involving expected behaviors and responsibilities.