Which One of the Following Is Accurate Regarding By-Product Theory

question 21

Multiple Choice

Which one of the following is accurate regarding by-product theory?

• A) Most people acquire political information accidentally.
• B) Most people acquire political information intentionally.
• C) Most people are likely to consume their news mostly by reading newspapers.
• D) Most people find politics to be interesting.

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Definitions:

Total Fixed Costs

The sum of all costs required to produce any good or service, that do not change with the volume of production.

Average Variable Costs

The total variable expenses of producing an item, divided by the quantity of items produced, accounting for costs that change with the production volume.

AVC Curve

The Average Variable Cost curve, in economics, represents how the variable cost per unit changes with the level of output.

AFC Curve

Average Fixed Costs curve; a graphical representation showing the average fixed costs of producing different levels of output, which typically decreases as output increases.