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Which Answer Reflects (In This Order) a Good, a Service

question 219

Multiple Choice

Which answer reflects (in this order) a good, a service, and an idea that can be marketed?


Definitions:

Average Variable Cost

Average variable cost is the total variable cost of production divided by the number of units produced, indicating the variable cost per unit.

Average Variable Cost

The total variable costs (costs that change with production volume) divided by the number of units produced.

Average Product of Labor

The output produced, on average, by one unit of labor, such as one worker or one hour of work.

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