Choose the Word or Phrase in [ ] Which Will

question 166

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Sally drove Jessie's car to the mall and was involved in an accident that was her fault.The primary auto insurance that will cover this accident is [Sally's | Jessie's].

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Definitions:

Average Variable Cost

The total variable costs divided by the quantity of output produced; it varies with output levels.

Average Total Cost

The per-unit production cost, calculated by dividing the overall production expenses by the number of units produced.

Price Taker

An economic term for a market participant that accepts the prevailing prices without influencing them.

Profit

The financial gain achieved when the revenue from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.