All of the Following Cost Curves Are U-Shaped Except One

question 60

Multiple Choice

All of the following cost curves are U-shaped except one.Which curve is not U-shaped?

• A)the marginal cost curve
• B)the average fixed cost curve
• C)the average total cost curve
• D)the average variable cost curve

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Definitions:

Reasonable Expectations

The anticipation or belief regarding a particular outcome or behavior under ordinary circumstances by a reasonable person.

Condition Subsequent

A future event or circumstance that, if it occurs, may terminate a party's obligation under a contract.

Constructive Condition

An implied condition in contracts that must be met before the obligation of the other party becomes due, even if it is not explicitly stated in the contract itself.

Impracticability

A doctrine that excuses a party from performing a contract when unforeseen events make performance excessively difficult or expensive.