The ATC Curve for a Firm That Produces an Information

question 179

Multiple Choice

The ATC curve for a firm that produces an information product

• A) slopes downward, because AVC is constant, AFC slopes downward, and ATC = AVC + AFC.
• B) slopes upward, because AFC is constant, AVC slopes upward, and ATC = AFC + AVC.
• C) is U-shaped, because AVC is U-shaped, AFC slopes downward, and ATC = AVC + AFC.
• D) slopes downward, because MC slopes downward, AVC is constant, and ATC = AVC +MC.

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Definitions:

TODAY() Function

A programming and spreadsheet function that returns the current date, widely used in data analysis, time-sensitive calculations, and reporting.

MROUND

A function in Excel that rounds a number to the nearest multiple of a specified value.

Nearest

The closest in distance, time, or relationship among options or elements being considered.

MINUTE

A unit of time equal to sixty seconds or one-sixtieth of an hour, also a function in many applications to extract the minute portion from a time value.