Average Variable Cost Is Defined As

question 29

Multiple Choice

Average variable cost is defined as:

• A)total cost divided by total output.
• B)total cost divided by number of workers.
• C)variable cost divided by total output.
• D)variable cost divided by price.

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Definitions:

Commercially Feasible

A product or project is considered commercially feasible if it is likely to generate a sufficient level of income to outweigh its costs and risks.

Tangible E&E Assets

Tangible Exploration & Evaluation Assets; physical assets used in the exploration and evaluation of mineral resources.

Fair Value

The estimated market price at which an asset or liability could be bought or sold in a current transaction between willing parties.