Figure 7-10 -In Figure 7-10, the Curve B Is

question 93

Multiple Choice

Figure 7-10
-In Figure 7-10, the curve B is

• A)average fixed cost.
• B)average total cost.
• C)average variable cost.
• D)marginal cost.

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Definitions:

Form of Capital

Various types of economic resources used by businesses to fund and operate their activities, including financial, social, or physical assets.

Technology

The use of scientific understanding to achieve practical goals, particularly within industrial sectors.

Factors of Production

The resources used in the production of goods and services, traditionally classified into land, labor, capital, and sometimes entrepreneurship.