At the Quantity of Output Where Average Cost Has Reached

question 31

Multiple Choice

At the quantity of output where average cost has reached its minimum level:

• A)average variable cost will equal marginal cost.
• B)profit must be at its maximum level.
• C)marginal cost will equal marginal profit.
• D)marginal cost will equal average cost.
• E)marginal cost will equal fixed cost.

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Definitions:

Workers' Compensation Laws

Legislation designed to provide financial and medical benefits to employees who are injured or become ill as a direct result of their job.

Financial Compensation

Payment given to a person or entity as reimbursement for loss, injury, or suffering.

Injured on the Job

Pertains to an employee suffering physical or mental harm or illness as a direct result of their work or work environment.

Bona Fide Occupational Qualification

An employment qualification that is reasonably necessary for the normal operation of a particular business or enterprise, and can justify discrimination based on characteristics like religion, nationality, or gender in certain circumstances.