Use the Following to Answer Questions

question 238

Multiple Choice

Use the following to answer questions :
-(Table: Kenya's Economy in 2010) Look at the table Kenya's Economy in 2010. The population at the end of 2010 was about:

• A)400 million.
• B)41 million.
• C)14 million.
• D)401 million.

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Definitions:

TVC

Total Variable Cost, which refers to the total of all costs that vary with the level of output or production activity.

Short Run

A period in economics during which at least one input, such as plant size, is fixed, and only some factors of production can be varied.

TC

Total Cost, which refers to the aggregate amount of expenses incurred by a business in producing goods or services.

AVC

Average Variable Cost, the total variable costs divided by the quantity of output produced, representing the variable cost per unit of output.