Imagine That You Are an Entrepreneur, Making Designer T-Shirts in Your

question 113

Multiple Choice

Imagine that you are an entrepreneur, making designer t-shirts in your garage. Your total cost (in dollars) is given by the equation TC = 300 + 10Q, where Q represents the number of t-shirts you make. As you increase your production of t-shirts, your average fixed cost ________ and your marginal cost ________.

• A)decreases; increases
• B)increases; decreases
• C)decreases; stays the same
• D)stays the same; increases

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Definitions:

D-Motivation

The drive or desire to achieve something, often diminished or lacking in certain contexts or individuals.

Scientifically Rigorous

Characterized by the strict application of scientific methods and principles to ensure validity and reliability.

Nobel Prize Winners

Individuals who have been awarded the Nobel Prize, prestigious awards given annually in several categories (such as Peace, Literature, and various Sciences) in recognition of outstanding contributions to humanity.

Self-Actualizers

Individuals who reach their fullest potential, achieving their highest needs and capabilities, as per Maslow's hierarchy.