Average Cost

question 24

Multiple Choice

Average cost

• A)is always larger than marginal cost.
• B)declines for some range of output, hits a minimum, and then increases.
• C)is always smaller than marginal cost.
• D)is total cost/price of the product.

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Definitions:

Close-window Button

A graphical interface element that, when clicked, closes the current window.

JButton

A graphical user interface component in Java Swing that represents a button which can be pressed by the user to perform an action.

Two-dimensional Table

A data structure that arranges information in rows and columns, effectively forming a grid.

GridLayout

A layout manager in Java Swing that arranges components in a rectangular grid.