Choose the One Alternative That Best Completes the Statement or Answers

question 87

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
- $16 ( \mathrm { p } / 2 )$ ∙ $\left( \frac { 1 } { 2 } \right) ^ { p }$ ∙ $\left( \frac { 1 } { 2 } \right) ^ { p }$

• A) \(4 \mathrm { P }\)
• B) \(\left( \frac { 4 } { p } \right) ^ { ( 3 / 2 ) p + 1 }\)
• C) 1
• D) cannot be simplified

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Definitions:

Variable Cost

Costs that change in proportion to the activity or volume of output in production, such as raw materials and direct labor costs.

Fixed Cost

Costs that do not vary with the level of output or sales, such as rent, salaries, and insurance.

Marginal Cost

The amount of money spent to manufacture one additional unit of a product or service.

Adam Smith

Was an 18th-century Scottish economist and philosopher, known as the "father of modern economics" for his influential work on the nature and causes of the wealth of nations.