Shawn Owns a Stroller Store

question 124

Multiple Choice

Shawn owns a stroller store.Last year his average cost of selling a stroller was $1,000.If he expands the size of his store this year and sees his average cost increase to $1,050,his long-run average total cost curve should be

• A) horizontal.
• B) U-shaped.
• C) vertical.
• D) downward sloping.
• E) upward sloping.

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Definitions:

Liens

Legal claims or holds on property as security for the payment of a debt or performance of some obligation.

Priority

The status of being more important or urgent than something else, often determining the order in which tasks or responsibilities are addressed.

Secured Transaction

Any transaction in which the payment of a debt is guaranteed, or secured, by personal property owned by the debtor or in which the debtor has a legal interest.

Collateral

Assets or property pledged as security for the repayment of a loan, subject to seizure on default.