At an Output of 1,000 Units Per Year, a Firm's

question 349

Multiple Choice

At an output of 1,000 units per year, a firm's variable costs are $5,000 and its average fixed costs are $3. Its total costs per year are

• A)$10,000.
• B)$8,000.
• C)$6,000.
• D)$5,000.

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Definitions:

Population

The total number of individuals or organisms of a particular species living in a specific area or region.

Control Condition

In experimental research, it is a standard or baseline condition against which the effects of the experimental conditions are compared.

Independent Variable

In an experimental setting, the variable that is manipulated by the researcher to observe its effect on the dependent variable.

Remedial Reading

Educational programs or strategies designed to improve reading skills in those who struggle with literacy.