Which Statement Is True

question 211

Multiple Choice

Which statement is true?

• A)AFC declines with output.
• B)ATC declines with output.
• C)AFC - AVC = ATC.
• D)Output divided by fixed cost = AFC.

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Definitions:

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale.

Labor Markets

Economic sectors that deal with the demand and supply of labor, determining employment levels and wage rates.

Legal Institutions

are established organizations within a society that develop, enforce, and interpret laws governing the behavior of individuals and groups.

Self-Directed Teams

Groups of employees who manage their own work and procedures without direct supervision.