The Table Given Below Shows the Average Total Cost of Production

question 37

Multiple Choice

The table given below shows the average total cost of production of a firm at different levels of the output.Table 8.5

-In the long run, the total variable cost of a firm:

• A)is equal to its total fixed cost.
• B)is equal to its total cost.
• C)is equal to its average fixed cost.
• D)is more than its total fixed cost.
• E)is less than its total cost.

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Definitions:

Buying Center

A group of individuals within an organization who are responsible for making purchasing decisions, including users, influencers, deciders, approvers, and gatekeepers.

Decider

An individual or group responsible for making the final decision in a purchasing process, often holding the authority to approve significant business transactions.

Routine Orders

Regular or scheduled orders placed by businesses or individuals to ensure a consistent supply of products or services.

Buying Center

A group of individuals within an organization who are involved in making a purchase decision.