Average Fixed Cost Is

question 149

Multiple Choice

Average fixed cost is:

• A) total cost divided by the number of units produced over a given period.
• B) total fixed cost divided by the number of units produced over a given period.
• C) the price of a fixed factor of production.
• D) fixed cost divided by the number of units of a fixed input employed over a given period.

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Definitions:

Value

Value typically refers to the importance, worth, or usefulness of something. It can also mean the principles or standards of behavior one judges to be important in life.

Data

Data consists of facts, statistics, or items of information often used as a basis for analysis, discussion, or calculation.

Elementary Description

A basic and fundamental explanation or representation of a subject.

Transactions

Operations or exchanges between parties, often involving the transfer of goods, services, money, or information.