Which of the Following Is True for All Units of Output

question 4

Multiple Choice

Which of the following is true for all units of output produced?

• A) Marginal cost is less than average total cost.
• B) Marginal cost is greater than average total cost.
• C) Average variable cost is less than average total cost.
• D) Average fixed cost is less than average variable cost.

---

Definitions:

Tax Cost

The economic expense associated with the imposition of taxes, including the burden on consumers or producers.

Resources Allocation

It involves distributing available resources among various competing needs or projects in order to achieve desired objectives or optimize outcomes.

Paradox of Voting

The situation where the cost of voting (time, effort) exceeds the apparent personal benefits, yet people still vote.

Majority Voting

A decision-making process where the option that receives more than half of the votes is chosen.