What Is Average Fixed Cost

question 150

Multiple Choice

What is average fixed cost?

• A)It is all the costs that do not vary with the level of output.
• B)It is total cost less total variable cost.
• C)It is total fixed cost divided by the level of output.
• D)It is total fixed costs less total variable costs.

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Definitions:

Uncertainty

A condition of limited knowledge where it is impossible to exactly describe an existing state, future outcome, or more than one possible outcome.

Social Facilitation

An improvement in performance produced by the mere presence of others, often because of increased arousal and motivation to perform well.

Mimicking Emotions

The act of copying or displaying emotions that are not genuinely felt, often to fit into a social context or as a response to social cues.

Group Pressure

The influence exerted by a group that encourages members to change their attitudes, values, or behaviors to conform to group norms.