What Is the Total Variable Cost When Output Is 100

question 99

Multiple Choice

What is the total variable cost when output is 100 units in Figure 21.2?

• A) $9,600.
• B) $296.
• C) $200.
• D) $20,000.

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Definitions:

Recession

A significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in GDP, real income, employment, industrial production, and wholesale-retail sales.

Monetarists

Economists who posit that variability in the money supply critically impacts the short-term national economic output and the price level over longer spans.

Money Supply

This refers to the total amount of money (including cash, coins, and balances in bank accounts) in circulation within an economy at a given time.

Economic Behaviorists

Economic Behaviorists study how psychological, social, cognitive, and emotional factors affect economic decisions of individuals and institutions, and the consequences these decisions have on market prices, returns, and the allocation of resources.