Which of the Following Statements Is NOT TRUE

question 27

Multiple Choice

Which of the following statements is NOT TRUE?

• A)AC = AFC + AVC
• B)C = F + VC
• C)AVC = wage/MP_L
• D)AFC = AC - AVC

---

Definitions:

Automobiles

Motor vehicles with four wheels designed primarily for passenger transportation on roads.

Supply

The total quantity of a good or service that businesses are willing and able to sell at a given price level.

Product

Any item or service that is created through a process and is offered for sale to consumers.

Resources

Inputs used in the production of goods and services, such as labor, capital, land, and technology.