Average Variable Costs

question 85

Multiple Choice

Average variable costs:

• A) always trend upward as output increases.
• B) always trend downward as output increases.
• C) decrease, then increase as output increases.
• D) increase, then decrease as output increases.

---

Definitions:

Economic Necessity

A situation where financial considerations compel a particular course of action, indicating that certain decisions are driven by economic rather than preferential factors.

Employment Opportunities

Available jobs or positions in the labor market that individuals can apply for in order to earn income.

Poverty Rate

The percentage of the population living below the national poverty line, indicating the proportion of individuals or families whose income falls short of the defined threshold for basic living costs.

Blue-collar Jobs

Occupations that typically involve manual labor or skilled trade tasks.