The Average Cost of a Product, in Dollars, Changes at the Rate

question 98

Multiple Choice

The average cost of a product, in dollars, changes at the rate and the average cost of 12 units is $25.00. Find the average cost of 24 units. Round your answer to the nearest cent. ​

• A) $600.00
• B) $25.50
• C) $50.00
• D) $30.60
• E) $1.50

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Definitions:

Government Expenditures

The total amount of money spent by the government on goods, services, and public projects.

Short-run Phillips Curve

A graphical representation showing an inverse relationship between the rate of inflation and the rate of unemployment in the short term.

Inflation

The pace at which overall prices for products and services escalate, causing the value of money to decline.

Unemployment

The condition of being capable and willing to work, but unable to find employment.