A Firm's Average Fixed Cost When Producing 2,000 Units of Output

question 11

Multiple Choice

A firm's average fixed cost when producing 2,000 units of output equals $10.When only 1,000 units of output are produced:

• A)AFC must still equal $10.
• B)AFC must equal $20.
• C)AFC must equal $5.
• D)marginal cost must equal $20.
• E)marginal cost must equal $10.

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Definitions:

Reusability

In object-oriented analysis, the ability to reuse existing classes from one project for another project.

Inheritance

A feature of object-oriented programming languages where a class can derive properties and methods from another class.

Method

The process of how a program converts inputs into the correct outputs.

MUMPS Language

A high-level programming language used primarily in the healthcare industry for database and information processing.