In Which of the Following Scenarios Are Models Being Used

question 15

Multiple Choice

In which of the following scenarios are models being used to make predictions and plan for the future?

• A)A policeman clocks the speed of a motorist with a radar gun.
• B)Someone checks the weather forecast for the weekend.
• C)An evolutionary biologist estimates fitness by measuring gene frequencies over time.
• D)All of the above

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Definitions:

Average Fixed Cost

The cost per unit that remains constant regardless of the level of production or output.

Output

The total amount of goods or services produced by a company or economy.

Total Cost

The total expense incurred in the production of goods or services, including both fixed and variable costs.

Average Fixed Cost

The total fixed costs of production divided by the quantity of output produced.