You Would Not Need to Cite a Source If You

question 8

Multiple Choice

You would not need to cite a source if you

• A) used a direct quotation of under 250 words from a book titled Modern Economics.
• B) used a table from the 1985 Farmer's Almanac.
• C) described, in your own words, a plan for organizing production lines, which appeared in a professional journal.
• D) provided general knowledge about your topic.
• E) found it on Google, Yahoo, or Bing.

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Definitions:

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance payments.

Marginal Costs

Marginal costs are the change in total costs that arise when the quantity produced is incremented by one unit, essentially the cost of producing one more unit of a good.

Average Variable Costs

Costs that change with the level of output, averaged over the total number of units produced.

Average Total Costs

The total of all production costs divided by the number of units produced, representing the per-unit cost of production.