Match the Person or Term with the with the Correct

question 25

Multiple Choice

Match the person or term with the with the correct description.
-Colin Powell

• A)sponsored a bill banning the use of torture
• B)Bush's Secretary of State
• C)House majority leader
• D)Obama appointee to the Supreme Court
• E)inability to lead the Federal Emergency Management Agency effectively
• F)Democratic presidential candidate in 2008
• G)compassionate conservative
• H)chief political adviser
• I)attorney general
• J)chief justice of the Supreme Court
• K)Republican activist and lobbyist
• L)elected president in 2008

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Definitions:

Total Variable Cost

The sum of all costs that vary with the output level in the production of goods or services.

Total Fixed Cost

The cumulative total of all costs that do not alter in response to the quantity of production or output.

Average Variable Cost

The cost of each unit variable, determined by dividing the overall variable costs by the produced output quantity.

Diseconomies of Scale

The phenomenon where production costs per unit increase as a firm's production increases.