-What Term Describes Output Where Average Total Cost Is at a Minimum

question 38

Multiple Choice

-What term describes output where average total cost is at a minimum?

• A)Excess capacity.
• B)Economic capacity.
• C)Economic profits.
• D)Marginal capacity.

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Definitions:

Business Ethics

A field of study that examines moral principles and problems that arise in a business environment.

Situational Ethics

An ethical theory which holds that to evaluate the morality of an action, we must imagine ourselves in the position of the person facing the ethical dilemma and then, on that basis, determine whether that person’s action was ethical.

Consequentialism

An ethical theory that judges whether an act is right or wrong based on the outcomes or consequences of that act.

Help

Assistance or support offered to solve a problem or achieve a goal.