Table 12-5 -Refer to Table 12-5.Assume That Fixed Costs Are $500,and Variable

question 419

Multiple Choice

Table 12-5

-Refer to Table 12-5.Assume that fixed costs are $500,and variable costs are $100 per worker.For this firm,what are the shapes of the production function and the total-cost curve?

• A) Both the production function and total-cost curve are increasing at an increasing rate.
• B) Both the production function and total-cost curve are increasing at a decreasing rate.
• C) The production function is increasing at a decreasing rate,whereas the total-cost function is increasing at an increasing rate.
• D) The production function is increasing at an increasing rate,whereas the total-cost function is increasing at a decreasing rate.

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Definitions:

ATP

Adenosine triphosphate, a high-energy molecule that stores and transports energy within cells for metabolism.

Glycolysis

Anaerobic process during which glucose is converted to pyruvic acid; net of two ATP molecules is produced during glycolysis.

Glyceraldehyde-3-Phosphate

A three-carbon sugar that plays a crucial role in cellular respiration, particularly in the glycolysis pathway.

ATP

Adenosine triphosphate, a molecule that carries energy within cells, facilitating various biological functions.