Just as the Wisdom of Crowds Keeps Wikipedia Accurate, a Blogger's

question 64

Multiple Choice

Just as the wisdom of crowds keeps Wikipedia accurate, a blogger's errors of fact or logic are exposed by:

• A) comment threads.
• B) trackbacks.
• C) reverse chronology.
• D) tags.
• E) persistence.

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Definitions:

Average Total Cost

The total cost divided by the quantity of output produced, representing the cost per unit of output.

Marginal Cost

The outgoings associated with the production of one more unit of a product or service.

Average Variable Cost

The total variable costs divided by the quantity of output produced; it varies with the level of output.

Long-Run Average Total Cost Curve

A graphical representation showing the relationship between output and average total cost when fixed cost has been chosen to minimize average total cost for each level of output.