Average Fixed Cost

question 36

Multiple Choice

Average fixed cost:

• A)is intersected by marginal cost at its minimum point
• B)may be found for any output by adding average variable cost and average cost
• C)graphs as a U-shaped curve
• D)declines so long as output increases
• E)graphs as a hill-shaped curve

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Definitions:

Hans Selye

A pioneering Hungarian-Canadian endocrinologist who is known for his research on the stress response and for introducing the concept of General Adaptation Syndrome.

Meyer Friedman

A cardiologist known for co-developing the theory that the Type A behavior pattern increases the risk of heart disease.

Walter Cannon

A physiologist known for his work on the fight or flight response and contributions to understanding the autonomic nervous system.

General Adaptation Syndrome

A three-stage response (alarm, resistance, exhaustion) that the body goes through when exposed to stress.