To the Nearest Whole Cent,what Should Be the Average Cost

question 275

Multiple Choice

To the nearest whole cent,what should be the average cost of operating the helpline per call at a volume of 25,300 calls in a month? (Assume that this call volume is within the relevant range.)

• A) $18.93
• B) $18.00
• C) $17.89
• D) $18.10

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Definitions:

Opportunity Cost

The value of the next best alternative that is foregone when making a decision.

Alternative Option

A different course of action or choice available to individuals or organizations, often considered when the primary option is deemed unsuitable or unavailable.

Action

The act or process of doing something, typically to achieve an aim or to deal with a problem or situation.

Economic Analysis

The systematic approach to determining the optimal use of scarce resources, involving comparing the costs and benefits of different courses of action.