At 50 Units of Output, a Firm's Average Variable Cost

question 179

Multiple Choice

At 50 units of output, a firm's average variable cost is $30.Therefore, its:

• A) average total cost is $30.
• B) average total cost is greater than $30.
• C) average total cost is less than $30.
• D) marginal cost is $30.

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Definitions:

Behavior and Mental Processes

Aspects of psychology that pertain to observable actions (behavior) and internal experiences such as thoughts and emotions (mental processes).

Stability and Change

The concept of how certain aspects of physical, cognitive, social, and emotional development remain stable over time, whereas others change.

Developmental Psychologists

Professionals who study the psychological growth and development that occurs throughout a lifespan.

Nature And Nurture

The debate regarding the influence of genetic inheritance (nature) versus environmental factors (nurture) on human development.