Statement I: Average Total Cost Can Be Found by Dividing

question 64

Multiple Choice

Statement I: Average total cost can be found by dividing output by total cost.
Statement II: At one unit of output marginal cost is always zero.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Positive Outcomes

Favorable results or consequences that result from specific actions or events.

Organisms

Living entities that can function autonomously, consisting of one or more cells.

Responses

Reactions or replies to stimuli or events, which can be physiological, emotional, or behavioral.

Behaviourism

A psychological approach that emphasizes the study of observable behaviors and their environmental determinants.