The Word parchment Is Derived from

question 39

Multiple Choice

The word parchment is derived from

• A) the material from which it was made.
• B) the city where it was first used.
• C) its similarity to papyrus.
• D) the shape into which it was usually cut.

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Definitions:

Average Total Cost

The total cost divided by the number of goods produced; it includes all variable and fixed costs.

Average Variable Cost

The total variable cost divided by the quantity of output produced; it varies with production levels.

Average Fixed Cost

The constant expenses associated with production, which remain unaffected by the amount of goods produced, divided by the number of items made.

Average Variable Cost

The total variable cost of production divided by the quantity of output produced.