-Refer to Table 8

question 21

Multiple Choice

-Refer to Table 8.1.Assume the wage rate is $10 and the firm has $1,000 in unavoidable fixed cost.What is the average fixed cost of producing 93 units of output?

• A) $11.40
• B) $10.75
• C) $0.65
• D) $10.00

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Definitions:

Open Sentences

Mathematical or logical sentences containing one or more variables that can be made true or false depending on the values of those variables.

Scope

The extent or range of view, understanding, or application of a subject or concept.

Truth-Functional Compound

A logical compound statement whose truth value is determined solely by the truth values of its components.

Quantifier

A logical term used to specify the quantity of specimens in the domain of discourse that satisfy an open sentence.