Hypotheses Are

question 1

Multiple Choice

Hypotheses are

• A)reasonable predictions about what should occur under specific circumstances
• B)guesses about the causes of events
• C)generated from theory through the process of induction
• D)considered to be "proven true" when supported by more than one experiment

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Definitions:

Cost Curve

A graph showing the relationship between the cost of producing goods and the quantity produced.

Average Fixed Cost

Production's unchanging charges, unaffected by output levels, divided by the total output quantity.

Average Variable Cost

The cost a company incurs to produce one additional unit of a product, calculated by dividing the total variable costs by the number of units produced.

Average Variable Cost

The cost per unit of variable inputs (like labor or materials) for producing a good, which changes with the level of output.