When an Entrepreneur Produces Only a Few Units of Output

question 13

Multiple Choice

When an entrepreneur produces only a few units of output, much of the cost of each unit must be used to pay fixed costs and, therefore, average cost is

• A) high
• B) low
• C) zero

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Definitions:

Separatism

The advocacy for the separation of a certain group of people from a larger body on the basis of ethnicity, religion, or gender.

Objective

Something that one's efforts or actions are intended to attain or accomplish; purpose; goal; target.

Value-neutral

An approach that is without judgment and does not assign moral, ethical, or cultural values to observations or decisions.

Marginalized

Referring to individuals or groups that are denied involvement in mainstream economic, political, cultural, or social activities.